US wants to buy emission credits to offset pollution

[Guest guest]

Heard this on the news last week and managed to find the story on the BBC

website. I suppose it must be true, money does buy everything!!!

Regards

The US wants to buy emission credits to offset pollution

The chief American negotiator on climate change has admitted for the first

time that the United States is unlikely to meet its commitment to cut

greenhouse gas emissions, without buying other countries' pollution rights.

The Under Secretary of State for Global Affairs, Loy, said a target to

cut emissions in the US by a third within 10 years - as set out by the 1997

Kyoto Protocol - was a difficult task.

To meet it, Mr Loy said the US would have to take full advantage of the

mechanism by which countries can compensate for heavy pollution levels by

buying pollution credits from other countries that do meet their targets.

Global warming could lead to worsening weather conditions

The US is the world's biggest polluter, producing some 35% of the greenhouse

gas emissions which lead to global warming.

Environmental groups say poorer countries are having to bear the

consequences of global warming, such as floods and hurricanes.

Greater burden

Mr Loy said US commitments made at Kyoto imposed a greater obligation on the

US than for other countries.

But, he said, there was no question of trying to renegotiate the treaty at

the forthcoming sixth global meeting of the parties to the Kyoto Protocol at

the Hague in November

" We are not seeking a change to either dates or numbers, despite recognition

of the fact that we have a tough chore, " he said.

Emissions trading

The way forward, he said, was to take full advantage of market mechanisms,

including emissions trading.

This allows excessively polluting countries to exceed their targets by

buying " credits " from others who fall short of their emissions ceiling.

The UK and the rest of the European Union want to limit the amount countries

can trade in pollution, but Mr Loy said that attempts to impose restrictions

were " conceptually wrong " .

Last month, the US Government warned that on present trends, average US

temperatures will rise by at least three degrees Celsius by 2100.