Canada’s new federal government has recently made it clear that it does not believe Canada will be able to abide by reductions in greenhouse gases (“GHGs”), as mandated under the Kyoto Protocol and committed by the previous government, of 6% below 1990 levels by 2012. This, according to the June 2006 edition of McMILLAN BINCH MENDELSOHN LLP’s Emissions Trading & Climate Change Bulletin, under the title, “The Asia-Pacific Partnership on Clean Development and Climate: Canada’s Newest (Potential) Climate Change Weapon”.
The government instead is proposing a “Made-in-Canada” plan to be tabled in the fall, and has recently hinted at joining the Asia-Pacific Partnership on Clean Development and Climate (the “AP6”). The six current member countries of the AP6 are the United States, Australia, China, India, Japan and South Korea. Their economies account for 54% of global economic output, 45% of global population, 48% of global energy use and 50% of global GHG emissions.
For an overview of the AP6 and how it compares with the Kyoto Protocol click on //www.mcmbm.com/Upload/Publication/Asia-PacificPartnershipOnCleanDevelopment_06-30-06.pdf or go to www.mcmbm.com.