Green Lantern in the New 52
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Kyle meets the Corps, a sight he'd never been given the chance to witness, before the Guardians demand his immediate return to the future, as time travel is obviously dangerous. Hal gets accidentally sent forward in time and has to come face-to-face with his crimes against the Corps when he donned the name Parallax.
In the end, Hal learns to accept his fate, and becomes a stronger person for it. For continuity's sake, Hal's mind is wiped upon his return to the past. Kyle, John Stewart and Guy Gardner all remember the events, but it's more of a moot point by the end of the story.
The reason I wanted to summarize "Emerald Knights" is because I feel like it really conveyed something that Green Lantern has been missing for some time: character growth. Ever since Green Lantern: Rebirth, which was a fantastic return for Hal Jordan into the world of the living, good ol' GL has had a rather tumultuous run. After Geoff Johns left the title, writing duties were passed around from arc to arc, creating a rather splintered perspective on the Emerald Warrior. The second volume of Green Lantern Corps fared much better, partly because it could be more character-based.
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Now, I'm all for a rich mythology. Johns' work in Rebirth was a perfect blend of modern writing with a new mythology that retroactively worked to create a compelling story. Apparently, Johns saw this as free reign to totally whip up an expanded history for the Green Lantern Corps and more specifically the faults and failures of the Guardians of the Universe. Again, I enjoyed every last bit of GL lore thrown at me from the last half-decade, but as a new reader, it can be nigh impossible to break in without doing weeks of reading (or a week, if you're dedicated.)
Which is why I was actually disappointed in the Green Lantern presence in DC's new 52. Four books feature characters primarily connected to Green Lantern: Green Lantern v5, Green Lantern Corps, Green Lantern: New Guardians, and Red Lanterns. Nearly all of GL's continuity from the pre-new 52 universe has carried over. It makes sense, seeing as "Blackest Night", "Brightest Day" and "War of the Green Lanterns" collectively took three years to tell and it would be a damn shame to flush it all down the toilet the moment it wrapped up. Also, "Blackest Night" was DC's most popular event of the past ten years, so they sure as hell didn't want to alienate all the new readers brought it by that story.
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I still love Green Lantern, and no amount of new mythology will change that. It's a bit unfortunate that the character didn't receive an awesome reboot treatment like Aquaman or Superman. Fortunately, Hal Jordan no longer has a ring, Kyle Rayner is intertwined in some weird new super-group made up of Lanterns from each color Corps, while John and Guy are holding down the fort in their own title. This is the chance writers have to tell interesting stories without having to resort to cosmic events to do so.