Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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

Don't Miss Out —
Follow us on:

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.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.