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Synopsis Intergovernmental Panel on Climate Change (IPCC) predicted that over the next 100 years, the earth s average temperature is expected to increase by 1.4-5.8°C, the fastest rate of warming in the last 10,000 years. This means that global warming is accelerating at an alarming rate. This rapid change in the earth s climatic condition has become a real threat to the living world and certain plant and animal species have already started off for absolute extinction. The major contributor towards this danger is the unprecedented increase in emission of green house gases generated by human activities. Almost all types of human activities ultimately end up with massive greenhouse gas emission. In order to find out ways to mitigate the severity of global warming in the near future, the United Nations initiated a process with UN Framework Convention on Climate Change (UNFCCC) at the "Earth Summit" in Rio de Janeiro in 1992. In 1997, Kyoto Protocol was signed and sent to the UNFCCC by 84 countries. The protocol binds a number of developed and developing countries for the period 2008 to 2012 in order to achieve the defined emission outcomes. The protocol allows for a range of flexibility mechanisms to be used up in the achievement of their emission targets. This book attempts to bring to the fore the concepts and consequences of the Kyoto Protocol in a two-section format. While the first section gives a portrayal of the protocol with reference to the emerging danger of global warming, the second talks about the implications of the protocol in developed and developing countries.