News Release
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Romano Prodi |
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No. 145/04
October 22, 2004
CLIMATE CHANGE: EU COMMISSION WELCOMES RUSSIAN PARLIAMENT’S
VOTE FOR KYOTO
The European Commission welcomes today's vote by the Russian State Duma in
favor of ratifying the Kyoto
Protocol. Once in force, it will legally oblige countries with binding targets
to reduce
greenhouse gases to reach these targets by 2012. The Kyoto protocol is the
main instrument for the global fight against climate
change and a good example of the effectiveness of global cooperation. Russia’s
ratification will inject new momentum to the protocol. Leading by example, the
EU has passed
legislation that has already made all its provisions legally binding in the
EU. The entry into force of Kyoto shows that the EU was right to follow this line.
The President of the European Commission, Romano
Prodi, said: "We are happy that the Russian Duma has decided to ratify.
I would also like to thank President Putin for his personal support for this process.
We hope that the United States will now re-consider its position. Latest scientific
evidence suggests that global climate change may be happening more rapidly that
has been previously known. The Kyoto Protocol may not be perfect but it is the
only effective tool that is available to the international community. The United
States should not abstain from the one fight that is crucial for the future of
mankind.”
Environment Commissioner
Margot
Wallström joined President Prodi in welcoming the Russian decision: "This
shows that the political leadership starts recognizing the challenge of climate
change. The EU has led the way in this work. We are now happy to have Russia on
board and we can now put words into deeds. The EU is ready to do so and has adopted
all the right policies to meet its targets."
Benefits for the global fight against climate change Kyoto's entry into force
will provide certainty to European investors and the emerging global emissions
trading markets linked to several market-based instruments envisaged by the
Protocol. These instruments will allow the parties with reduction targets to meet
their commitments cost-effectively.
The Protocol's entry-into-force also provides a legal base for international negotiations
to start next year on a post-2012
climate change regime. While the reductions envisaged in the Protocol are
only a modest first step, the implementation of the Protocol is vital for the
industrialized countries to take leadership in the fight against climate change.
Climate change is a global problem than can only be resolved by all those countries
that are contributing significantly to global greenhouse gas emissions.
Benefits for Russia
Russia’s greenhouse gas emissions are currently some 30% below 1990 levels. The
Kyoto Protocol requires that Russia does not exceed the 1990 levels during 2008-2012.
This means that, once international emissions trading starts, Russia will have
a significant surplus of emission quotas that it can sell to other countries that
have ratified the Protocol.
In addition, Russia will gain from the project-based mechanism known as Joint
Implementation, which allows Parties with targets to carry out emission reduction
projects in other countries with targets and count the achieved reductions against
their own targets. Joint Implementation projects can help Russia improve its energy
efficiency and thus its competitiveness. Several EU Member
States have already expressed strong interest in investing in such projects
in Russia.
Further information on EU climate change policy:
http://www.europa.eu.int/comm/environment/climat/home_en.htm
