Under the Kyoto Protocol, Poland and Russia were handed free carbon permits to allow their heavy industries to continue to operate. But when Eastern European industry collapsed, the permits - which have a financial value - were not needed. At this point they became "hot air", with the potential to be sold to other nations. This undermines the regime of cutting emissions overall.They'd get just as far moving towared a compromise which would restrict the future sale of snake oil, no?
Poland has refused to surrender its permits. The EU has been heavily criticized for allowing this loophole but it's also been trying to avoid any more internal diplomatic crises. So it looks to be moving towards a compromise which will restrict the future sale of "hot air".
Friday, December 7, 2012
Few Takers for Doha "Hot Air"
This bit, from a Beeb report about the Doha climate conference, gave me a chuckle: