Behind Kyoto

New Scientist Breaking News - US-led emissions pact seen as Kyoto rival

"The world’s four largest coal-consuming countries have announced a pact to share technology for limiting emissions of greenhouse gases."

"The new pact ... allows the countries to set their own goals for emissions of greenhouse gases, with no enforcement measures."

According to the article, Australia pulled out of Kyoto even though the protocol would have allowed Australia increase its emissions by 8% between 1990 and 2010.

"[The signatory nations'] companies will now hope for increased access to Asian markets for their technologies."

"There is speculation that the new group will seek to reach a formal agreement with the signatories to the Kyoto Protocol. Such an agreement might allow companies from the new group who sell clean technologies to developing countries to gain carbon permits that could be traded with companies operating under the Kyoto Protocol."