27 September 2003 00:47
Russia wary of ratifying accord on emissions KYOTO PROTOCOL:
Russia is unlikely to ratify the Kyoto protocol on environmental emissions
unless it receives substantial guaranteed financial benefits, a Kremlin
official said yesterday.
He said it was "fully possible" that the treaty would not be
approved by parliament during 2004, risking the collapse of the international
initiative to reduce industrial emissions.
The decision will prove a fresh disappointment to environmental groups and
governments in Europe, Canada and Japan, which have lobbied Russia hard in
the past few months after Mikhail Kasyanov, prime minister, more than a year
ago pledged ratification.
It will also prove embarrassing to Russia ahead of the opening in Moscow on
Monday of an international scientific conference on climate change, launched
at President Vladimir Putin's initiative last year.
However, the official said he was "99 per cent sure" Mr Putin would
not commit to the Kyoto protocol at the conference, which he stressed was a
scientific gathering. He added there was still considerable international
debate about how far Kyoto would address concerns over global warming.
Russia could stand to gain considerable income from the Kyoto protocol, since
the limits set down in the treaty mean its low current level of emissions
allows it to trade credits from countries that pollute considerably more.
But the official said Russia needed greater clarity on how the mechanisms for
trading would work, and that it had yet to receive any clear guarantees that
pledged credits would be received. "This is not an environmental but an
economic matter. Without a guarantee, we will not ratify," he said.
He said just two Russian companies - Gazprom and UES - had received three
proposals from foreign partners between them, worth about Dollars 400m (Euros
348m, Pounds 241m). He said a minimum of Dollars 3bn in firm guarantees would
be a "starting point" for negotiations.
He stressed Russia had already made considerable efforts to reduce emissions,
including initiatives by federal and local governments as well as a sharp
fall following the collapse of the Soviet Union and the closure of many
uneconomic factories.
He estimated that, on current projections, if the government pursued a series
of planned economic reforms, Russia's emissions would rise to the limits
permitted in the protocol by 2023.
He added that Russia had been "cheated" too often in the past on
international deals such as on sovereign debt forgiveness and membership of
the World Trade Organisation, and wanted greater assurances before
proceeding.
[FTI [The Financial Times]] |
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