Australia will soon announce a new greenhouse gas emission pact with the United States, China, India and South Korea as an alternative to the Kyoto Protocol, the environment minister said Wednesday.
While 140 countries ratified the 1997 Kyoto agreement to reduce greenhouse gas emissions, Australia and the U.S. have refused because developing countries weren’t required to adopt emission targets.
Environment Minister Ian Campbell said Canberra and Washington had for the past 12 months been negotiating a new multilateral agreement targeting rapidly developing countries which pump out large amounts of greenhouse gas.
Labeling the Kyoto Protocol ineffective and a failure, Campbell said it was vital for developed countries to create and deploy modern technologies to help energy-hungry Asia-Pacific economies such as China and India slash emissions.
”We know that this is the answer; we know that the Kyoto Protocol is a failure in terms of saving the climate