Russia Won’t Renew Kyoto Protocol
Russia will not renew its commitment to the Kyoto Protocol.
Moscow won’t join the second phase of the Kyoto Protocol, which starts on January 1st 2013.
Russia decided to discontinue its participation in the protocol because the world’s major producers of greenhouse gases – the United States, China and India – are still refusing to commit themselves to reduce greenhouse gas emissions.
Because of that, Russian leaders say, the Kyoto Protocol, which came into force seven years ago, had no impact on the rate of global warming.
Ukraine, Belarus May Join Russia to Shun Kyoto
Ukraine may join Russia in shunning the extended Kyoto Protocol after United Nations envoys approved a text the two nations didn’t agree with, according to the Centre for European Policy Studies in Brussels.
Ukraine, the eastern European nation located in the natural-gas trading corridor between the EU and Russia, is listed in a Dec. 8 text outlining the conclusions of climate talks held in Doha as agreeing to cut its emissions by 20 percent of 1990 levels by 2020. They had already fallen by 60 percent in 2010, according to data published by the UN Framework Convention on Climate Change in Bonn on Nov. 16.
Another section of the Doha text would cancel any surplus sovereign emissions permits for the eight years through 2020 above the average annual emissions of the country in the three years through 2010. That clause may in effect require Ukraine, Belarus and other nations outside the EU while joining Kyoto to take a smaller cap, according to Norton Rose LLP. Russia has said it won’t join Kyoto’s extension. Regulatory uncertainty drove UN offset prices to record lows this week.
“Ukraine and Belarus are less likely to ratify the second commitment period of the Kyoto Protocol” because they object to the text, Andrei Marcu, senior adviser to the Centre for European Policy Studies in Brussels, said yesterday in a report on the Doha talks. CEPS advises on government policy.