The Kyoto Protocol's international carbon trading market is set for expansion, with the introduction of a worldwide transaction log by the end of the year. The International Transaction Log (ITL) will link the carbon registries for each Kyoto nation through an online network.
Under the 1997 Kyoto Protocol, 36 industrialised countries pledged to reduce their greenhouse gas emissions to at least 5% below 1990 levels between 2008 and 2012. A total of 175 countries have now ratified the associate
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