Fed: Australia urged to follow Russia`s lead on Kyoto protocol
CANBERRA, May 22 AAP - Labor today urged the federal government to sign the Kyoto Protocol on climate change as
Russia moved a step closer to ratifying the agreement. Russia's President Vladimir Putin yesterday promised to
speed up ratification of the protocol after winning support from the European Union for Russia to join the World Trade
Organisation. Labor's environment spokesman Kelvin Thomson said if Russia signed the agreement, the protocol would
meet the requirements it needs to come into force around the world. "Australia and the United States would then
stand internationally isolated - two shags on a rock," he said in a statement. "If Australia does not ratify
the protocol now, it is Australia which will suffer." Mr Thomson said Australian businesses risked missing out on
reaping benefits from the emissions trading regime and clean development mechanism the protocol allows for.
"Investors from the European Union, Japan and elsewhere will not invest in Australian projects because they
won't get carbon credits if they do, and Australian companies will miss out on contracts abroad in countries like
China because Australia has not ratified the protocol," he said. Russia's support for the protocol, which aims
to reduce greenhouse gas and carbon dioxide emissions, is a key step in the agreement being able to come into force
after the United States pulled out in 2001. The protocol needs to be ratified by no less than 55 countries which are
responsible for 55 per cent of greenhouse gas emissions. Canberra has so far refused to ratify the protocol, despite
pressure from groups such as the Western Australian Farmers' Federation. The federation argues Australia's
ratification of the protocol would send a strong signal to the world that it was committed to managing climate change
problems. AAP bt/sjb/tnf
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