The second commitment period of the Kyoto Protocol was adopted in 2012 and till date 65 countries have ratified the Second Commitment Period.
Ratification of the Kyoto Protocol by India will encourage other developing countries to undertake this exercise.
According to the official statement, "In view of the critical role played by India is securing international consensus on climate change issues, this decision will further underlines India's leadership in the comity of nations committed to global cause of environmental protection and climate justice. Implementation of Clean Development Mechanism projects under this commitment period in accordance with Sustainable Development priorities will attract some investments in India as well."
The Kyoto Protocol places commitments on developed nations to undertake mitigation targets and to provide financial resources and transfer of technology to the developing countries. India being a developed country have no mandatory mitigation targets under the Kyoto Protocol.
The Kyoto Protocol was adopted in 1997 and the first commitment period was from 2008 to 2012. At Doha in 2012, the amendments to Kyoto Protocol for the second commitment period were successfully adopted for the period 2013 to 2020.
