Carbon credits and the stalemate between the U.S., China and Australia will be two hot topics over the next nine days, Kevin Tuerff of EnviroMedia Social Marketing reports from the U.N. Climate Change Conference in Bali.
While U.S. business and political leaders are anxious to pass legislation authorizing the trading of carbon credits, some believe this approach shouldn’t take the place of reducing carbon emissions and does nothing to help people in developing countries cope with climate change. Highlighting the debate, Tuerff met the head of a successful EU-based carbon-trading firm but also heard conference attendees from Ecuador and Uruguay say, “We don’t believe in carbon credits and offsets.” Instead, the two South American NGO representatives said they cared most about reducing oil extraction, deforestation and mining.
The U.S. Government has long cited Australia and China’s lack of involvement as a reason for not ratifying the Kyoto Treaty. But on the first day of the Bali conference, Australia, under the leadership of newly elected Prime Minister Kevin Rudd, announced that it would immediately ratify the Kyoto Protocol.
On Saturday, a member of the Chinese government’s negotiating team told Asia News Channel they are coming to Bali with commitments to conserve energy and reduce emissions – commitments they will challenge other countries to match.