The Kyoto Protocol aims to reduce greenhouse gas emissions by using methods like emissions trading and clean development projects. This study looks at how these methods affect global economies. By using emissions trading, the costs of reducing emissions can be lower, which then impacts energy markets worldwide. The clean development projects can also help cut down on the costs of meeting emission reduction goals. The research suggests that these approaches can make it more affordable for countries to lower their greenhouse gas emissions as agreed in the Kyoto Protocol.