U.S. disappointed by EU calls for limits on gas emissions trading

May 20, 1999 02:00 AM

The U.S. State Department said it is disappointed by a new EU strategy aimed at limiting gas emissions trading within the context of the Kyoto protocol on climate change.
The EU strategy, adopted earlier this week, calls for limits on emissions trading, although the EU agreed during the Kyoto negotiations two years ago not to do so.
"The U.S. government is disappointed by the statement of the European Union seeking to restrict the use of emissions trading under the Kyoto Protocol," a statement said "This new action by the EU is an attempt to rewrite the Kyoto Protocol."
Emissions trading allows companies to meet cuts in their greenhouse gas output set by the protocol by buying certificates from firms that have already reduced their output below the Kyoto standards.
The practice would also allow U.S. companies to get certificates if they sell emissions-reducing technology or finance projects designed to help developing countries cut back on their greenhouse gas output.
"Market mechanisms, such as emissions trading, are essential to dealing with the global problem of climate change in the most cost effective and environmentally effective manner," the State Department said.

Source: AFP/FT via Newspage
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