or UNFCCC)1 and Annex B to the Kyoto Protocol2 (the Protocol) respectively contain lists of Parties which are subject to more specific and substantive obligations than Parties not listed under these annexes. In the case of the Protocol, developed countries accepted quantified emission limitation and reduction commitments. To participate in the flexible mechanisms of the Protocol, a Party has to be listed in Annex B.3 Annex I to the Convention and Annex B to the Protocol are not only descriptive in nature, but are related to substantive co