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It deals with the emission of greenhouse gases.
The Kyoto Protocol has been largely unable to achieve the reduction in emission targets it set out for developed economies. With the US withdrawing from the Kyoto Protocol in 2003 and an increase in Canada, Australia and Japan's emissions by more than 23.4%, 22% and 8.1% respectively from 1990 levels, the Kyoto Protocol has essentially been a failure. The lesson is loud and clear: international law can sometimes end up being a very poor mechanism for allocating emissions permits.