Setting the scene
Negotiations in Japan wrestled with historical responsibility vs. per-capita fairness, echoing North-South finance fights.
What happened
Carbon trading experiments sometimes rewarded questionable offsets, feeding skeptic headlines.
Why it still matters
U.S. Senate politics kept ratification stalled even as EU systems moved ahead. Memorable detail: 'Kyoto' became shorthand in U.S. talk radio for alleged job-killing treaties.
Background
Kyoto framed carbon markets and clean-development mechanisms that later informed Paris Agreement debates about fairness and enforcement.