Kyoto Deal Blocks Carbon Market Access for Some Nations
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The deal to extend pollution limits under the Kyoto Protocol restricts the ability of Japan, Russia, Canada and New Zealand to take advantage of carbon market mechanisms under the United Nations treaty.
The pact endorsed today by ministers from more than 190 nations in Doha sets binding emissions caps for 37 so-called Annex B nations beginning in 2013. Those nations that renounced a second round of commitments when the first ones finish this year won’t be able to buy Certified Emissions Reductions.