Does this affect obligations of nations that took on emission reduction commitments under the Kyoto Protocol (Annex-B nations)?
No, the aim of this system is to include terrestrial carbon in developing nations, particularly forest and peatlands in the tropics, in the climate change solution. It is not to change the obligations of Annex-B parties. Annex-I nations should not be able to use action on terrestrial carbon as a way to satisfy existing commitments on “International Cooperation” under the UNFCCC and Kyoto Protocol.