These are smaller scale project activities that are subject to a more agile project cycle and with lower transaction costs.
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See also
Second commitment period
Second commitment period
Refers to the 2012-2020 period, under the Kyoto Protocol.
Entry into force
Entry into force
Intergovernmental agreements, including protocols and amendments, are not legally valid until ratified by a certain number of countries. For the UNFCCC creation, it took 50 countries; as for ratifying the Kyoto Protocol, at least 55 countries were required...