I write my column Emissions Impossible in TCS Daily on 25 August 2003.
Russia holds Kyoto hostage, but for the wrong reasons
Among other things, the old Soviet Union was one of the most horrible examples of economic and environmental mismanagement. Now the Russian Federation is seen that way by the EU since it still has not ratified the Kyoto Protocol. The treaty can only come into effect once the industrialized countries ratify it that account for 55 per cent of global emissions, and since the US has pulled out, Russia's participation has become of utmost importance to Eurocrats.
The European Union's emissions trading directive is also an important factor. It is no wonder that the EU is keen for emissions trading to begin as well outside its borders. The bloc won't be able to meet its targets without purchasing excess credits from elsewhere.
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