Can the flexible mechanisms of Kyoto protocol really help to improve the natural environment?

The goal of my bachelor thesis was to confirm or falsify a hypothesis if the flexible mechanisms of Kyoto protocol really can help to improve the natural environment. The theoretical part is focused at the most important documents and legislation connected with the climate change. The practical part is dedicated to recognition of problems and critical moments of Kyoto protocol and outcome analysis of the flexible mechanisms. The study is focused on the emission trading, clean development mechanism their problems and imper-fections. It also contains an analysis of financial potential of the allowance distribution by auction. This analysis is focused on yields of utilized and unutilized derogation. The result of my work is, that the flexible mechanisms can help to improve the condition of natural environment. But such help is not sufficient for any meaningful contribution to fight aga-inst climate change