PLEA Network

1 December 2015, Renew Economy, Malcolm Turnbull does a Kevin Rudd and ratifies Kyoto Protocol. PARIS: Prime minister Malcolm Turnbull has followed in the footsteps of former Labor PM Kevin Rudd, and announced that Australia would ratify the Kyoto Protocol – a move we flagged yesterday and one that could increase pressure on Australia to lift its near-term targets. In both cases, the gesture came in the weeks after the two prime ministers were elevated to their position, and followed predecessors bitterly opposed to the ratification, John Howard and Tony Abbott respectively. In the case of Rudd in 2007, it was the first period of the Kyoto Protocol, and Australia had been a significant hold-out against the treaty. It earned him a standing ovation at the Bali conference, but little influence in Copenhagen. Turnbull has now decided to ratify the second period of the Kyoto Protocol, at Paris, several years after it signed the treaty. It doesn’t make a lot of difference in itself, but it was seen as an important gesture to developing nations while a new treaty that includes all countries is negotiated in Paris. And, in any case, it would be churlish not to, considering that Australia will use a heavy overhang of surplus credits from the first period of the Kyoto Protocol to meet its 2020 targets. And legal access to international credits may help Australia meet its targets.Read More here