Kyoto climate accord becomes operational
MONTREAL, Thursday (AFP)
The controversial Kyoto protocol, aiming to cut greenhouse gas
emissions, became fully operational on Wednesday after a UN climate
conference here adopted the final rules.
The 34 signatory countries — which do not include the United States
or Australia — passed the final regulatory measures by consensus at the
Montreal conference.
“The Kyoto protocol is now fully operational. This is an historic
step,” said conference chairman Stephane Dion, Canada’s environment
minister.
Under the protocol, the 34 agree to limit emissions of gases that
cause global warming until 2012.
The Montreal conference is trying to set out preliminary plans to
further cut emissions when the accord ends.
Kyoto was negotiated in 1997 and formally entered into force on
February 16, 2005. However, it could not come into operation until after
the formal adoption of the rulebook, which was drawn up over the past
four years.
The signatories hammered out a mechanism for trading pollution
rights. The final rules also eased pollution standards by allowing
countries to take into account carbon dioxide produced by growing trees.
A separate system setting out sanctions for those who breach the
protocol should be adopted before the 12-day conference ends on December
9.“I am absolutely confident that the compliance system will be adopted
next week,” said Richard Kinley, acting head of the UN climate change
secretariat.
Despite the troubles hounding efforts to restrict pollution, the UN
climate secretariat hailed the new step taken at the conference and the
launch of emissions trading.
“Carbon now has a market value. Under the clean development
mechanism, investing in projects that provide sustainable development
and reduce emissions makes sound business sense,” Kinley said.
Under the mechanism, developed countries can invest in other
developed countries, particularly in central and eastern Europe, to earn
carbon allowances which they can use to meet their emission reduction
commitments at home.
Industrialised nations can also invest in “sustainable development
projects” in developing countries to earn extra pollution allowances.
On Wednesday, the conference debated a new proposal by Papua New
Guinea to allocate carbon allowances to developing countries which
combat deforestation.
The proposal was welcomed by Canada and Britain, and also Brazil,
where deforestation is a huge problem. The United States and Australia,
which refused to ratify the protocol to the UN framework convention on
climate change, attended Wednesday’s session as observers. |