The Protocol sets for the first time in history concrete and binding reduction targets for all signatory nations.

Between 2008 and 2012, the Parties will collectively reduce emissions by 5% by 2012 compared to the 1990 baseline.

The Protocol does establish an enforcement system (with reporting and penalties) and a global market for emission rights.

A second commitment period will follow, covering the 2013-2020 period, better known as the Doha Amendment.

In Europe, the Protocol was translated in 2002 into an emission target of -8% by 2012 compared to the reference year 1990.

Belgium's target was revised in 2002 to a -7.5% reduction in emissions by 2012 compared to the 1990 reference year.

In order to meet the reduction target of 7.5% by 2012 in comparison with the reference year 1990, Belgium distributed the burden as follows in the Cooperation Agreement of 2004:

The Kyoto Protocol requires countries to have a national system for estimating greenhouse gas emissions.

The Protocol contains more details about the obligation of countries to measure, record and report greenhouse gas emissions and to prepare and publish national energy and climate plans. The Protocol also guarantees that this information will be independently verified.

Belgium, as a signatory country, also accepts these obligations.

Different methodologies to measure emissions exist and may have different implications for policy making.

An important question is whether emissions should be measured on the basis of ''production'' (''Production-based Carbon Accounting'' or PBCA) or on the basis of ''consumption'' (''Consumption-based Carbon Accounting'' or CBCA). For example, how should we account for the greenhouse gases emissions associated with your smartphone? In "production-based" accounting, those emissions are included in the inventory of the country where your smartphone was produced. In "consumption-based" accounting, those emissions are included in the inventory of the country where your smartphone was purchased.

Different methods will affect how countries are held accountable to the amount of greenhouse gas emissions emitted.