How Europe wants to replace Kyoto
The Earth Times, Wed, 28 Jan 2009 13:55:51 GMT
Brussels - The European Commission's latest proposals for a deal to replace the existing Kyoto Protocol on fighting climate change, which the international community hopes to finalize in Copenhagen in December, include the following key points:TRADING: The commission calls on all major economies, both developed and developing, to set up systems for forcing industry to buy permits to emit greenhouse gases, and to link their systems with the EU's emissions-permit trading system (ETS), set up in 2005.
The 30 members of the Organization for Economic Cooperation and Development (OECD) - countries such as the US, Canada, Japan, South Korea and most EU member states - should each set up their own ETS by 2013, and allow permits to be traded between them by 2015.
Developing countries should have their own ETS ready to link into the network by 2020.
TARGETS: Developed countries, which are the world's main emitters of the gases which cause global warming, should pledge to cut their emissions to an average of 30 per cent below 1990 levels by 2020.
Developing countries should pledge to brake their emissions growth, aiming to emit between 15 and 30 per cent less greenhouse gas in 2020 than they would if they maintained their current policies.
The targets should also include emissions from global air transport and shipping, two sectors which were not covered by the Kyoto Protocol, which is set to expire in 2013.
ADAPTATION: The commission proposes that every country should draw up a national plan on how it should adapt to the impact of climate change and calls for new financial and insurance systems to help the poorest countries cope.
FUNDING: The commission paper estimates that the international community will have to invest at least 175 billion euros (230 billion dollars) per year into fighting climate change by 2020.
To help fund the effort, the commission calls on rich states to set up a legally-binding system for paying poorer ones to fight climate change, either by agreeing rules and targets for bilateral aid or by sharing some of the revenue from emissions-permit sales.
It also calls on the world community to double investment in clean-energy research by 2013 and quadruple it by 2020.
However, it demands tighter rules for a system which allows rich countries to gain credit for sponsoring emissions-reduction projects in poorer ones. Such projects would be limited to the poorest countries, cutting states such as China out entirely.
EU officials say that the wealthiest developing countries are already richer than the bloc's poorest members, such as Bulgaria or Romania, making it only fair for them to pay for their emissions.
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