Correct Option
The correct option is 2 and 3 only.
Explanation
The Kyoto Protocol is an international treaty that operationalizes the United Nations Framework Convention on Climate Change (UNFCCC). It commits industrialized countries and economies in transition to limit and reduce greenhouse gas (GHG) emissions in accordance with agreed individual targets. The Protocol is underpinned by the principle of "Common But Differentiated Responsibilities" (CBDR).
Statement-wise Analysis
Statement 1 is Incorrect.
The Kyoto Protocol did not exempt OECD states from targets. On the contrary, the Protocol placed a heavier burden on developed nations, most of which are OECD members, under the principle of historic responsibility. It was developing countries (Non-Annex I countries) that were exempted from binding emission reduction targets during the initial commitment periods, not the industrialized OECD states.
Statement 2 is Correct.
The central mechanism of the Kyoto Protocol was setting binding emission reduction targets for industrialized countries and economies in transition (collectively referred to as Annex I parties). These countries committed to reducing their emissions of six key greenhouse gases.
Statement 3 is Correct.
The Protocol was adopted at the third session of the Conference of the Parties (COP 3) to the UNFCCC in Kyoto, Japan, on 11 December 1997. It entered into force later, on 16 February 2005.
Key Takeaway
Key Takeaway: The Kyoto Protocol is the first international agreement to set legally binding emission reduction targets, specifically targeting Annex I (developed) countries based on the principle of Common But Differentiated Responsibilities (CBDR), while exempting developing nations from binding cuts.