Editing Kyoto Protocol (section)

===== Trade in AAUs =====
Latvia was one of the front-runners of GISs. World Bank (2011)<ref name="world bank 2011 trade in aaus">{{citation
 | year=2011
 | author=World Bank
 | title=State and Trends of the Carbon Market Report 2011
 | url=http://siteresources.worldbank.org/INTCARBONFINANCE/Resources/State_and_Trends_Updated_June_2011.pdf
 | publisher=World Bank Environment Department, Carbon Finance Unit
 | location=Washington, DC, USA
 | access-date=26 January 2012
 | archive-date=25 March 2020
 | archive-url=https://web.archive.org/web/20200325045048/http://siteresources.worldbank.org/INTCARBONFINANCE/Resources/State_and_Trends_Updated_June_2011.pdf
 | url-status=live
 }}</ref>{{Rp|53|date=November 2012}} reported that Latvia has stopped offering AAU sales because of low AAU prices. In 2010, Estonia was the preferred source for AAU buyers, followed by the Czech Republic and Poland.<ref name="world bank 2011 trade in aaus" />{{Rp|53|date=November 2012}}

Japan's national policy to meet their Kyoto target includes the purchase of AAUs sold under GISs.<ref>{{citation
 | date=28 March 2008
 | author=Government of Japan
 | title=Kyoto Protocol Target Achievement Plan (Provisional Translation)
 | url=http://www.env.go.jp/en/earth/cc/kptap.pdf
 | publisher=Ministry of the Environment, Government of Japan
 | location=Tokyo, Japan
 | pages=81–82
 | access-date=26 January 2012
 | archive-date=20 April 2012
 | archive-url=https://web.archive.org/web/20120420003913/https://www.env.go.jp/en/earth/cc/kptap.pdf
 | url-status=live
 }}</ref> In 2010, Japan and Japanese firms were the main buyers of AAUs.<ref name="world bank 2011 trade in aaus" />{{Rp|53|date=November 2012}} In terms of the international carbon market, trade in AAUs are a small proportion of overall market value.<ref name="world bank 2011 trade in aaus" />{{Rp|9|date=November 2012}} In 2010, 97% of trade in the international carbon market was driven by the [[European Union Emission Trading Scheme]] (EU ETS).<ref name="world bank 2011 trade in aaus" />{{Rp|9|date=November 2012}}