Five big
developed countries have voluntarily cancelled emission reduction
“credits” achieved by overshooting their first Kyoto Protocol greenhouse
targets – the same kind of credits Australia is banking to boast it has already
“met and beaten” its international pledges.
Germany, Denmark, the Netherlands, Sweden and Britain have
announced they will cancel 634.6m tonnes of emission reduction credits they
were technically able to count towards their targets for the second Kyoto
period, in a bid to overcome what has been described as a giant “hot air”
loophole.
Australia, in stark contrast, is banking 128m tonnes of
carryover from overshooting its lenient target in the first Kyoto commitment
period and using it to be able to claim – as the Prime Minister, Malcolm
Turnbull, did in his speech to the Paris summit – that it is already on track
to meet its second pledge.
Read The Guardian
story - “Australia isolated as developed nations cancel carry over credits fromKyoto.”
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