Friday, July 29, 2005

Climate Pact

A new Pact on Climate Change was announced yesterday to complement the Kyoto Protocol. The pact developed behind the scenes over the past year involves US, Australia (2 economies who have refused to sign the Kyoto protocol because it would damage their economies) and major emitters such as China, India, Japan and South Korea. China and India have signed previously the Kyoto Protocol, but do not have any binding obligations under it. The Pact calls for voluntary measures and emphasizes strategic technology development.
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