EU ASKS CHINA TO CUT SPEW

EU asks China to set 15-30% emission cut goal
Rujun Shen and Tom Miles (w/Ben Tan), 23 April 2009 (Reuters)

"The European Union suggested that developing countries including China emit 15 to 30 percent less greenhouse gases than usual by 2020, but this would be a goal rather than an obligation, an EU official said…

"Magnus Gislev, first secretary on environment with the Delegation of the European Commission to China, said that aim should be achieved by adopting policies and strategies that enable countries to achieve economic development and at the same time reduce carbon emissions."

China and India are a big part of the problem, no doubt about it. (click to enlarge)

"Under the Clean Development Mechanism (CDM) of the Kyoto Protocol, which is to expire in 2012, developed countries can invest in clean energy projects in developing nations.

"India and China are the top two sources of U.N.-certified emissions reductions, representing billions in investment and trade in carbon credits."

A BIG portion of the world's Certified Emissions Reductions (CERs) are now in China and India. (click to enlarge)

"Delegates from nearly 200 countries plan to meet in Copenhagen in December to hold discussions on a successor to the Kyoto Protocol…

"[Gislev] suggested the establishment of a sectoral crediting mechanism, which would initially focus on power generation, among other sectors…"