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The Kyoto Agreement RSS Feed

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THE HISTORIC KYOTO AGREEMENT: A CRITICAL FIRST STEP IN A GLOBAL EFFORT TO ADDRESS GLOBAL WARMING December 11, 1997 The Kyoto agreement represents an historic and unprecedented step to reduce the threat of global warming in an environmentally strong and economically sound way. It involves 160 nations, and recognizes the crucial importance of specific steps to address climate change. The leadership offered by the President and Vice President allowed this agreement to be completed -- and generations from now, the agreement will be remembered as establishing the core elements of a strong, realistic, and legally binding framework. Target and Timetable: The United States agreed to a binding target of reducing greenhouse gas emissions to 7 percent below a baseline based on 1990 levels by 2008-2012. The agreement is based on a somewhat different accounting system -- so that the 7 percent reduction is roughly equivalent to the President's initial proposal. Coverage of Agreement: The agreement covers six greenhouse gases, which had been a priority of the United States but had not been included in the proposals from other major economies. The inclusion of all six gases represents a major U.S. victory in the agreement and ensures that the environment will be protected against all major greenhouse gases. Joint Implementation: The agreement includes a Clean Development Mechanism, that will allow the types of joint implementation projects that will benefit U.S. businesses and allow developing countries to grow in a more energy efficient way. The mechanism gives U.S. companies credit for improving energy efficiency in developing countries. Developing Country Participation: Global warming is a global problem requiring a global solution. We have therefore adopted a two-step process to this problem. This agreement locks in hard commitments by the developed countries, as well as some commitments by the developing countries (such as on the Clean Development Mechanism). But the President has made very clear that the United States would not take on legally binding targets until there is meaningful participation by developing countries. We will be working hard over the coming months and years to secure that participation.
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