Reports suggest new proposal could aim to secure future of Clean Development Mechanisms after 2012
The EU is reportedly working on a compromise package of proposals designed to end the deadlock between developing and industrialised nations over the future of the Kyoto Protocol.
A senior EU official told influential newswire Point Carbon News that diplomats are working on a plan that would see Kyoto extended beyond its current expiration date of 2012, on the understanding that it is then allowed to lapse in 2018 to be replaced by a new global pact.
"It's not a formal EU position yet, although it is something that has gained ground in recent months," the source told Point Carbon News, adding that the compromise agreement would allow countries to maintain the legal framework for Kyoto-backed carbon trading schemes such as the Clean Development Mechanism, without ratifying a full second period for Kyoto.
Kyoto currently represents the only legal mechanism requiring industrialised nations to curb their emissions.
A spokeswoman for the UK's Department of Energy and Climate Change refused to be drawn on the on-going EU negotiations, but hinted that work to find a suitable compromise agreement over the future of the Kyoto Protocol was continuing.
"The UK, together with the EU, has already stated it is willing to consider a second commitment period beyond 2012 for the Kyoto Protocol”.
Read more: www.businessgreen.com
Follow Carbon Expert on Twitter
No comments:
Post a Comment