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Climate change is caused by global warming, an increase in the average air temperature of the world. Continued warming can harm the economy of certain regions and damage ecosystems. The adoption of the Framework Convention on Climate Change (UNFCCC) in 1992 was a major step forward in tackling the problem of global warming. Yet as greenhouse gas emission levels continued to rise around the world, it became increasingly evident that only a firm and binding commitment by developed countries to reduce emissions could solve the problem of climate change. The Kyoto Protocol of the UNFCCC was adopted in Kyoto, Japan, on 11 December 1997. The major distinction between the two, however, is that while the UNFCCC encouraged developed countries to stabilize greenhouse gas emissions, the Protocol commits them to do so. The Protocol requires developed countries to reduce their greenhouse gas emissions below levels specified for each of them in the Treaty. These targets must be met within a five-year time frame between 2008 and 2012, and add up to a total cut in greenhouse gas emissions of at least 5 % against the baseline of 1990. In order to give Parties a certain degree of flexibility in meeting their emission reduction targets, the Protocol developed three innovative mechanisms - known as Emissions Trading, Joint Implementation (JI) and the Clean Development Mechanism (CDM). The detailed rules for its implementation were adopted in Marrakesh in 2001, and are called the "Marrakesh Accords." The European Union is a part to the UNFCCC and its Kyoto Protocol. The EU has put legislation and policies in place to meet their commitments to cut greenhouse gas emissions at 8 % against the baseline of 1990 and has created The Greenhouse Gas Emissions Trading Scheme - the first carbon market in the world. The EU is a leading regional organisation in fighting the climate change. Also it is implementing a number of domestic legal instruments, such as green certificate system. Lithuania as the EU member state has ratified the UNFCCC, the Kyoto Protocol, and has transposed the EU directives regarding the greenhouse gas emission reduction regime and the trade of emissions credits. However Lithuania has failed to fully implement the legislation mentioned above. The Climate Change Law, which is believed to establish thorough legal regulation of climate change management, is being drafted.

Climate change is caused by global warming, an increase in the average air temperature of the world. Continued warming can harm the economy of certain regions and damage ecosystems. The adoption of the Framework Convention on Climate Change (UNFCCC) in 1992 was a major step forward in tackling the problem of global warming. Yet as greenhouse gas emission levels continued to rise around the world, it became increasingly evident that only a firm and binding commitment by developed countries to reduce emissions could solve the problem of climate change. The Kyoto Protocol of the UNFCCC was adopted in Kyoto, Japan, on 11 December 1997. The major distinction between the two, however, is that while the UNFCCC encouraged developed countries to stabilize greenhouse gas emissions, the Protocol commits them to do so. The Protocol requires developed countries to reduce their greenhouse gas emissions below levels specified for each of them in the Treaty. These targets must be met within a five-year time frame between 2008 and 2012, and add up to a total cut in greenhouse gas emissions of at least 5 % against the baseline of 1990. In order to give Parties a certain degree of flexibility in meeting their emission reduction targets, the Protocol developed three innovative mechanisms - known as Emissions Trading, Joint Implementation (JI) and the Clean Development Mechanism (CDM). The detailed rules for its implementation were adopted in Marrakesh in 2001, and are called the "Marrakesh Accords." The European Union is a part to the UNFCCC and its Kyoto Protocol. The EU has put legislation and policies in place to meet their commitments to cut greenhouse gas emissions at 8 % against the baseline of 1990 and has created The Greenhouse Gas Emissions Trading Scheme - the first carbon market in the world. The EU is a leading regional organisation in fighting the climate change. Also it is implementing a number of domestic legal instruments, such as green certificate system. Lithuania as the EU member state has ratified the UNFCCC, the Kyoto Protocol, and has transposed the EU directives regarding the greenhouse gas emission reduction regime and the trade of emissions credits. However Lithuania has failed to fully implement the legislation mentioned above. The Climate Change Law, which is believed to establish thorough legal regulation of climate change management, is being drafted.

Climate change is caused by global warming, an increase in the average air temperature of the world. Continued warming can harm the economy of certain regions and damage ecosystems. The adoption of the Framework Convention on Climate Change (UNFCCC) in 1992 was a major step forward in tackling the problem of global warming. Yet as greenhouse gas emission levels continued to rise around the world, it became increasingly evident that only a firm and binding commitment by developed countries to reduce emissions could solve the problem of climate change. The Kyoto Protocol of the UNFCCC was adopted in Kyoto, Japan, on 11 December 1997. The major distinction between the two, however, is that while the UNFCCC encouraged developed countries to stabilize greenhouse gas emissions, the Protocol commits them to do so. The Protocol requires developed countries to reduce their greenhouse gas emissions below levels specified for each of them in the Treaty. These targets must be met within a five-year time frame between 2008 and 2012, and add up to a total cut in greenhouse gas emissions of at least 5 % against the baseline of 1990. In order to give Parties a certain degree of flexibility in meeting their emission reduction targets, the Protocol developed three innovative mechanisms - known as Emissions Trading, Joint Implementation (JI) and the Clean Development Mechanism (CDM). The detailed rules for its implementation were adopted in Marrakesh in 2001, and are called the "Marrakesh Accords." The European Union is a part to the UNFCCC and its Kyoto Protocol. The EU has put legislation and policies in place to meet their commitments to cut greenhouse gas emissions at 8 % against the baseline of 1990 and has created The Greenhouse Gas Emissions Trading Scheme - the first carbon market in the world. The EU is a leading regional organisation in fighting the climate change. Also it is implementing a number of domestic legal instruments, such as green certificate system. Lithuania as the EU member state has ratified the UNFCCC, the Kyoto Protocol, and has transposed the EU directives regarding the greenhouse gas emission reduction regime and the trade of emissions credits. However Lithuania has failed to fully implement the legislation mentioned above. The Climate Change Law, which is believed to establish thorough legal regulation of climate change management, is being drafted.

Climate change is caused by global warming, an increase in the average air temperature of the world. Continued warming can harm the economy of certain regions and damage ecosystems. The adoption of the Framework Convention on Climate Change (UNFCCC) in 1992 was a major step forward in tackling the problem of global warming. Yet as greenhouse gas emission levels continued to rise around the world, it became increasingly evident that only a firm and binding commitment by developed countries to reduce emissions could solve the problem of climate change. The Kyoto Protocol of the UNFCCC was adopted in Kyoto, Japan, on 11 December 1997. The major distinction between the two, however, is that while the UNFCCC encouraged developed countries to stabilize greenhouse gas emissions, the Protocol commits them to do so. The Protocol requires developed countries to reduce their greenhouse gas emissions below levels specified for each of them in the Treaty. These targets must be met within a five-year time frame between 2008 and 2012, and add up to a total cut in greenhouse gas emissions of at least 5 % against the baseline of 1990. In order to give Parties a certain degree of flexibility in meeting their emission reduction targets, the Protocol developed three innovative mechanisms - known as Emissions Trading, Joint Implementation (JI) and the Clean Development Mechanism (CDM). The detailed rules for its implementation were adopted in Marrakesh in 2001, and are called the "Marrakesh Accords." The European Union is a part to the UNFCCC and its Kyoto Protocol. The EU has put legislation and policies in place to meet their commitments to cut greenhouse gas emissions at 8 % against the baseline of 1990 and has created The Greenhouse Gas Emissions Trading Scheme - the first carbon market in the world. The EU is a leading regional organisation in fighting the climate change. Also it is implementing a number of domestic legal instruments, such as green certificate system. Lithuania as the EU member state has ratified the UNFCCC, the Kyoto Protocol, and has transposed the EU directives regarding the greenhouse gas emission reduction regime and the trade of emissions credits. However Lithuania has failed to fully implement the legislation mentioned above. The Climate Change Law, which is believed to establish thorough legal regulation of climate change management, is being drafted.