Basic Nations Seek to Limit UN Carbon Offset Use for Non-Members

Nov. 20 (Bloomberg) -- Developed countries that don’t join a second commitment period of the Kyoto Protocol shouldn’t be allowed to use United Nation carbon offsets to help cut their greenhouse-gas emissions, the Basic group of nations said.

Developed countries that don’t take on binding targets for a second period starting in 2013 shouldn’t be eligible to use Certified Emission Reductions generated by investments in clean-technology projects in developing countries, ministers from India, China, Brazil and South Africa, known by their French acronym Basic, said today in a joint statement.

Japan, Canada and New Zealand have all announced they don’t plan to participate in a second round of emission cuts under the 1997 treaty. While Russia has indicated it may not take on new targets, it has yet to fully spell out its stance. That leaves the European Union and Australia as the main countries seeking new targets.

The Basic countries met for two days of talks in Beijing before the annual UN climate change conference in Doha next week.

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