The Kyoto Protocol is not exempt of shortcomings, but overall it is a good compromise. It envisaged flexibility mechanisms to facilitate the meeting of emission reduction quota commitments by developed country Parties, while promoting cleaner development in countries that do not have specific emission reduction quotas.
Over the years we have witnessed how many voluntary initiatives from the developing world have been launched with climate change in mind. Most recently a number of OPEC Member Countries namely Saudi Arabia with $300 million and Kuwait, Qatar and the United Arab Emirates each with $150 million have created a fund aimed at investing in technological solutions to protect the environment.
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Organization of the Petroleum Exporting Countries (OPEC) mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry.
Organization of the Petroleum Exporting Countries
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