14 Nov 2008 05:11:26
20 countries not cutting emissions in line with Kyoto
The degree to which 20 signatories of the Kyoto treaty have failed to cut their greenhouse gas emissions in line with the agreement's stipulations shows countries were more interested in making promises than meeting them, according to an expert.
New Carbon Finance claims that nations will have to buy 2.3 billion permits each representing one ton of emissions to make up for their excess gasses.
Bjorn Lomborg author of The Sceptical Environmentalist told Bloomberg "This shows there's a lot more interest in promising stuff than actually keeping those promises."
He added: "What you should be doing is investing in research and development to make much more dramatic emissions cuts much cheaper in the future.''
The Kyoto treaty is set to run out in 2012, and preparations are already under way for the final meeting of the next round of negotiations, which will take place in Copenhagen in December 2009.
China has suggested that all developed countries set aside one per cent of their GDP to transfer clean technology to developing countries if the discussions are to progress.http://www.newcarbonfinance.com/