International agreement linked to UNFCCC, which commits its parties by setting internationally binding emission reduction targets. Adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. It commits some of the Convention’s Annex I Parties (Kyoto Protocol's Annex B) to individual targets for reduce overall emissions of greenhouse gases (GHGs) from these countries by approximately 5% below 1990 levels within the Protocol’s first commitment period (2008-12). Fine for an offense US$ 37 / ton CO2 or € 40 /ton CO2 (2005-2007) and € 100 /ton CO2 (2008-2012)