Monday, August 29, 2005

PM John Howard says I was right about Kyoto!

Kyoto: New Zealand and German businesses are throwing a fit about the cost of Kyoto. New Zealand is in a bind because they sold the agreement as a money maker for them. It turns out the only one making money will be Russia.

JOHN Howard claims he has been vindicated over his opposition to the Kyoto Protocol after business groups in New Zealand and Germany demanded their countries quit the agreement as soon as possible and join the Asia-Pacific climate pact. A coalition of 22,000 New Zealand businesses, under the auspices of the New Zealand Chambers of Commerce and Industry, called on both parties in the New Zealand election to start talks on pulling out of the Kyoto Protocol by 2008 - the earliest possible date to do so. The chief executive of the Employers and Manufacturers Association of New Zealand, Alasdair Thompson, said compliance had cost companies much more than the Government predicted. It has been estimated that New Zealand may have to spend between $600million and $1.2billion to meet its Kyoto commitments on greenhouse gas emissions instead of gaining carbon credits. "The Government's carbon credit calculations were incorrect to begin with, and business concern is growing that the latest calculations on the extent of the liability are still wrong," Mr Thompson said. Germany's industry bodies said last week "the hopes on the Kyoto Protocol were unfortunately not fulfilled" and that consideration for all countries to join the recently agreed six-nation Asia-Pacific Clean Air and Development partnership "after the expiration of the Kyoto Protocol in 2012". The industry group president, Juergen Thumann, said "we could fully use our potential on new climate conversing technologies in international competition with such an alliance".

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