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Breaking News: World’s third largest economy bails on Kyoto II’

Posted By Joanne Nova On December 3, 2010 @ 5:46 pm In Global Warming | Comments Disabled

Source national post news.

“Japan will not inscribe its target under the Kyoto protocol on any conditions or under any circumstances.”

Japan is the third largest economy in the world. In absolute, unequivocal terms it has just announced it will not be extending the Kyoto agreement.

It’s hard to see how a carbon trading scheme can continue to grow when major emitters are pulling out.

“The delicately balanced global climate talks in Cancún suffered a serious setback last night when Japan categorically stated its opposition to extending the Kyoto protocol – the binding international treaty that commits most of the world’s richest countries to making emission cuts.

The Kyoto protocol was adopted in Japan in 1997 by major emitting countries, who committed themselves to cut emissions by an average 5% on 1990 figures by 2012.

However the US congress refused to ratify it and remains outside the protocol.”

From The Guardian: Japan refuses to extend Kyoto

Presumably this is the perfect time then for the Gillard Government to launch Australia (with it’s minor player, 800 billion dollar, GDP) into a sacrificial symbolic scheme that the rest of the world is abandoning.

‘The forthrightness of the statement took people by surprise,’ said one British official.

If it proves to be a new, formal position rather than a negotiating tactic, it could provoke a walk-out by some developing countries and threaten a breakdown in the talks. Last night diplomats were urgently trying to clarify the position.

Japan — owes some $13 Billion thanks to Kyoto. They must be regretting ever signing it.

Japanese taxpayers will pay for two-thirds of that nation’s excess, New Carbon Finance estimated, based on the current sharing between state funding and industry.

Jimbo commenting at WUWT points out “that the signs were there just a week ago”:

Reuters – November 25, 2010
Japan says extending Kyoto pact is “meaningless”
“European countries from this year have proposed that it could be okay to extend the commitment period of the Kyoto Protocol if it is joined by major emitters, but we have made clear that this is not acceptable,” Minamikawa told a news conference.

“Even if the issue of extending the Kyoto Protocol becomes a major item on the agenda in Cancun and Japan finds itself isolated, Japan will not agree to this.”.
http://af.reuters.com/article/energyOilNews/idAFTOE6AO01G20101125

The stakes are changing in this poker game.

Who knows — maybe the Japanese Translation of The Skeptics Handbook made a small contribution :-)

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