LOOKING FORWARD

The protocol will only become legally binding when it is ratified byat least 55 countries, covering at least 55 per cent of the emissions addressed by the protocol. The 55-country benchmark has been passed, but the 23 industrialized countries that have ratified represent only 36.6 per cent of 1990 emission levels. Canada represents three per cent of these emissions.

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GREENHOUSEGASES

Global warming occurs when carbon based gases mainly carbon dioxide, nitrous oxide and methane - accumulate in the atmosphere and retain the heat of the sun. They are called greenhouse gases because the effect is similar to the retention of the sun's heat in a glass-walled greenhouse.

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KYOTO'S GOALS

Under the Kyoto protocol, industrialized countries and countries in transition to a market economy agreed to bring their emissions of greenhouse gases to five per cent less than 1990 levels. They also agreed to foster energy efficiency in their economies, promote the development of cleaner energy sources, and employ agricultural practices that have a sustainable environmental impact. Overall, there was an agreement to co-operate internationally in these policies and to share reports on progress.

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HOW IT WORKS

In addition to domestic goals on pollution reduction, the Kyoto protocol provides countries with three other ways of earning credits toward their stated goals:

Clean Development: countries can earn credits by investing in emission reduction projects or clean energy production in developing countries.

  Joint Implementation: countries can earn credits by investing in emission reduction projects in developed countries that have taken on a Kyoto target.

International Emissions Trading: developed countries that have taken on a Kyoto target can buy and sell emission credits among themselves.

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WHAT CANADA AGREES TO DO

Under Kyoto, Canada agrees to reduce greenhouse gas emissions to six per cent below 1990 levels by 2012. This would represent a 26 per cent reduction from projected 2012 levels. Two years ago, Canada had surpassed its 1990 levels by close to 20 per cent.

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SIGNATORIES

As of this week, 86 countries have ratified the Kyoto protocol - roughly half the number that attended the Kyoto conference. The United States has said it will not ratify Kyoto.

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STICKING POINTS

Canada has argued it should receive greater credit for "carbon sinks."

This is the term used for forests and other vegetation that absorb carbon dioxide from the atmosphere, store it and produce oxygen.

Canada has also asked for more clean-energy export credits for the natural gas and electricity it sells to the United States.

The Canadian oil-and-gas industry has also argued the economic impact of sweeping emissions reductions would harm the Canadian economy, while a flight from Canada's oil and gas would not necessarily mean a global reduction in the burning of these fossil fuels.

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COSTS