Each Schedule I country is required to submit an annual report on inventories of all anthropogenic greenhouse gas emissions from well sources and distances under the UNFCCC and Kyoto Protocol. These countries designate a person (called the “designated national authority”), who establishes and manages his or her inventory of greenhouse gases. Almost all non-Schedule I countries have also established a designated national authority to manage their Kyoto commitments, in particular the “CDM process.” It defines the GHG projects they wish to propose for accreditation by the CDM Steering Committee. Some contracting parties, such as South Africa and Iran. B expressed concern about how the schedule I contracting parties` efforts to reduce emissions could have a negative impact on their economies. :7 The economies of these countries depend to a large extent on revenues from the production, processing and export of fossil fuels. Overall, the group of industrialized countries that committed to a Kyoto target, i.e. Schedule I countries excluding the United States, had a target of reducing their greenhouse gas emissions by an average of 4.2% over the 2008-2012 period compared to the base year, which in most cases is 1990. :24 Another area that has been commented on is the role of Kyoto`s flexibility mechanisms: emissions trading, joint implementation and the Clean Development Mechanism (CDM).   Flexibility mechanisms have generated positive and negative feedback.    To achieve stabilization, global greenhouse gas emissions must peak and then decrease.
 The lower the desired level of stabilization, the more this peak and decline must occur (see figure opposite).  For a certain level of stabilization, greater reductions in emissions in the short term allow for less severe emission reductions.  On the other hand, less stringent short-term emission reductions for a given level of stabilization would later require stricter emission reductions.  The 2010 Cancun Agreements provide for voluntary commitments from 76 developed and developing countries to control their greenhouse gas emissions.  In 2010, these 76 countries were collectively responsible for 85% of annual global emissions.   Non-change-of-land and forest GHG emissions (LUCF) reported by 122 non-Schedule I parties for 1994 or the following year amounted to 11.7 billion Ts (in billions – 1,000,000,000) co2-eq. CO2 was the largest share of emissions (63%), followed by methane (26%) and protogen (N2O) (11%). Analysts have developed scenarios for future changes in greenhouse gas emissions that are stabilizing atmospheric concentrations of greenhouse gases.
 Climate models suggest that lower stabilization levels are linked to lower magnitudes of future global warming, while higher stabilization levels are linked to higher magnitudes of future global warming (see chart opposite).  Between 2001, the first year in which Clean Development Mechanism (CDM) projects were registered, and 2012, at the end of the first Kyoto commitment period, the CDM is expected to produce about 1.5 billion tonnes of carbon dioxide (CO2) equivalent to reduce emissions.  Most of these reductions are due to the commercialization of renewable energy, energy efficiency and fuel conversion (World Bank, 2010, p.