US & Oz States Take on Bad Climate Governance
States in the U.S. and Australia are developing carbon trading systems to curb greenhouse gases after the federal governments in both countries refused to ratify the Kyoto Protocol. In Australia starting in 2010 electricity companies in all eight states and territories would have to hold tradable permits to emit greenhouse gases. In the U.S., New York and six other northeastern U.S. states agreed on a plan to begin in 2009 to cut carbon dioxide emissions from power plants by 10 percent over 10 years – and California is moving forward with plans to cap and trade greenhouse gases. Timely changes of national government in both countries and their eventual rejoining of the Kyoto process should allow convergence into a single international carbon market whose emission targets can be regularly tightened.