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Australia, New Zealand Say No Kyoto Without Larger Climate Deal

Australia and New Zealand, which sponsor the most developed carbon markets outside Europe, say they won’t agree to remain part of the Kyoto treaty unless other countries bolster efforts to curb emissions.

Australia will only sign up for further cuts under Kyoto through 2020 if all big emitting countries agree to legally binding actions, Climate Change Minister Greg Combet said in an interview in Durban, South Africa. New Zealand says it won’t join unless it has stronger assurance that voluntary pledges will be met by large polluters such as China.