Environmental Defense Fund Applauds Progress At Climate Talks

Today as Ministers completed their work at the international global warming negotiations, the Environmental Defense Fund (EDF) applauded the diplomatic progress made during the meeting to establish operational guidelines for the Kyoto Protocol, the international treaty designed to combat global climate change. EDF also called on the negotiating parties, particularly the US, to accelerate efforts to reduce emissions of greenhouse gases, and maintain the current momentum on the key issues of compliance, emissions trading, and land-use management.

“Progress in the climate change negotiations coupled with early domestic reductions of greenhouse gases is vital to international efforts to avert dangerous warming of the Earth’s atmosphere,” said Michael Oppenheimer, EDF chief scientist.

While the US, by far the largest producer of greenhouse gases (GHG), fails to take significant actions to curb its emissions, some within the private sector are beginning to reduce or mitigate emissions through promising market based approaches, such as emissions trading, as well as innovative partnerships. Today, EDF released an analysis showing that the equivalent of over 72 million metric tons of the greenhouse gas carbon dioxide has been reduced in recent early emissions trading activity.

Acting in anticipation of future controls on their GHG emissions, forward-thinking businesses are curbing their own emissions or, alternatively, are purchasing emissions credits from other businesses who reduce emissions, or from landowners who measurably increase carbon uptake through improved farming and forestry practices. If ratified, the Kyoto Protocol would likely create an international market whereby such credits could be exchanged in order to reduce the build-up of GHGs.

“Since the Kyoto Protocol’s framework for a global emissions trading market has yet to be finalized, businesses are showing leadership with these actions,” said Dirk Forrister, EDF’s energy program manager. “It’s time for governments to provide similar leadership: Finalize and ratify the Kyoto Protocol as soon as possible and jumpstart early reductions of dangerous greenhouse gas pollution.”

“This conference demonstrated a welcome and marked improvement in the negotiating atmosphere,” said Oppenheimer. “The Kyoto process is alive and well. It’s time for governments who have hesitated, like the US, to start cutting emissions now.”