The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change, aimed at combating global warming. To achieve targets for green house emissions, market based mechanisms have been promoted. Emission trading one such an administrative approach used to control pollution by providing economic incentives for achieving reductions in emissions of pollutants... Drawbacks include Emissions trading does little to solve pollution problems overall, regulatory agencies run the risk of issuing too many emission credits...(Brohe), pollution still happens under this method and some countries have more pollutant industries than others yet the atmosphere affected affects them too. A major benefit of this mechanism is that effort has been made to reduce the carbon emissions. Another mechanism is the Clean Development Mechanism. This mechanism has the benefit of developing of communities in third world countries e.g. by rural electrification projects using solar panels... The mechanism offers industrialized countries some flexibility in how they meet their emission reduction... The mechanism has its drawbacks, e.g. if a project is rejected because the criteria are set too high, there will be missed opportunities for emission reductions... NGOs also criticize the inclusion of large hydropower projects, considered unsustainable, thus raising the issue on what exactly counts as beneficial projects...
All mechanisms however, have their critics and advocates. One advocate of the emission mechanism is the European Union Emission Trading Scheme while critics include environmental justice non-governmental organizations, economists and labor organizations mainly because they reduce jobs and incomes plus their concern about energy supply and excessive taxation...
Carbon tax and quota are methods that would help to internalize the costs of carbon emissions and subsequent climate change but they have considerably different overall impacts and potential for achieving the required reductions. This tax method would be better than emission mechanism since somebody is responsible for their quota or share of carbon space. In the emission mechanism, the choice is up to the party on whether or not to take the incentives thus very little responsibility.