DIVISION• 2024562215 6 15PM ENVIRONMENT POLICY 12-19-97 6 15PM TECH POLICY 12-19-97 BY OFFC SCI SENT SENT BY OFFC SCI TECH ENVIRONMENT DIVISION- 2024562215 21 33 # # 2 DRAFT DRAFT l 2--19-97 12-19-97 Commonly Asked Questions About the Kyoto Protocol on on Climate Climate Change Change by participation by standar-d of meaningful participation Clinton s standard satisfy President Clinton’s Does this agreement satis countries key developing countries not does not agreement does imponant progress was made with developing countries in Kyoto the agreement While important President and Vice participation envisioned by the President and mi aningful paiTlcipation include the meaningful Vice President coming the coming in the Admini rut ion will work closely with key developing countries in Accordingly Accurclingly the Administration the to the ycnr 'l to secure Juch months and years such participation and will not submit the Kyoto Protocol to achieved rotitica tion until further progress has been achieved Senutc Senate for ratification C lean Development Mechanism under which U S firms can Developing countries did agree to a Clean home invest in emissions reducing projects abroad and receive credits against emissions caps at home an proposa and represents an lJ S joint implementation proposal provi ion is very similar to the U S This provision costmost are they g1obally wherever important step in ensuring that emissions cuts arc made globally effective existing their existing of their Furthermore developing countries also agreed to advance the implementation of many Already Change Already many l 992 Framework Convention on Climate Change Wlder the 1992 commitments under which i ieps such as eliminating fossil fuel subsidies which developing countries countrie have taken a series of steps b'l'Owth have slowed their emissions growth this How significant are the additional emissions reductions for the United States in this 2008by levels Clinton•s proposal to reach 1990 emissions Pre ident Clinton’s agreement beyond President 20082012·r 20127 proposa1 The President's initial proposal ogreed to by the U S are fairly close to the President’s The reductions rcduction5 agreed Kyoto Protocol calls for the tho U S to reduce emissions 7 percent below 1990 levels in the period percent Japan 66 percent percent Japan Europe must reduce S 2008-2012 hurope 8 percent More than half of the 7 percent cut reflects changes in accounting for three of the six greenhouse gases “carbon sinks such as forests which absorb carbon from the atmosphere gRse and for so-called carbon rea reductions that are no When these accounting changes are considered considered the U S target reflects real more than 2-3 percent below 1990 levels emissions The U S also succeeded in blocking efforts of other countries to begin the binding emissions States United the to costs increased have ear ier a move that would reduction period in 2005 or earlier United States NT DIVISION• 2024562215 POLICY 12-19-97 6 15PM TECH POLICY 12-19-97 BY OfFC SCI SENT SENT BY OFFC SCI TECH 6 15PM ENVIRONME ENVIRONMENT DIVISION 2024562215 31 33 # # 3 Does the tbo Kyoto agreement Agreement threaten tJ s_ 1T S sovereignt sovereigntyy in some way the proposals of other countries to impose No it does not The D S successfully y blocked Ihe U S successfull No it mandatory policies and measures that would have prescribed the specific means for each country mandatory policies target it s emissions target to meet its tlex1bility The Kyoto Protocol relies instead on the free market to provide nations the maximum flexibility ve wherever they are most cost-effecti to achieve emissions reductions t fierever cost-effective implementation included in the agreement Are international agreement international emissions trading and joint implementation countries as emissio11s with other countries Yes they are The U S was able to enshrine the right to trade emissions as well as to conduct specific emissions reduction projects abroad for whic h which U S firms would gafo gain credit at home 1 he rules provision need to be worked out It is the intention of tht provisions procedmes for both these and procedures rules and The time for procedures in ncgotintio113 on these rules and procedures the U S to make every eITuTl cflorl to complete complcslc negotiations in time tor the next major c limatc climate ha ngc change meeting to occur in Buenos Aires in November Will the agreement hamper U S military operationt operations or dom tfo domestic readiness No Departmentt of Defense No The Kyoto Protocol includes several provisions sought by the Departmen 11 11 surge operations fuels and so-called surge” hunker fiiel s dealing with bunker measure we have complete Due to to the the success success of of the U S in opposing mandatory policies and measures Due discretion in deciding whatever domestic measures are necessary to meet our target Accordingly tiny y issues related to emissions from military sources which comprise only a tiny Accordingl t independen entire1y fraction of overall U S emissions can be handled through domestic means entirely independent fraction of overall from the Protocol Will the agreement lead to a $40 bilHon bUlion U S payout 10 to Russia participate in t nussions targets to participote wilh emissions The Kyoto Protocol enshrines the right of nations wUh in mc1y decide that it is cheaper to purchase emissions trading Under emissions trading inns firms may malc e sure excess emissions The idea is to make rcdutN them at home lbe th m to reduce ww1try tliau emissions from another country possible ns possible vely as reducliuns arc taken as cost-effecti that emissions reductions cost-cfTcctively Russia is likely firms -— as well as have emissions credits to sell It is quite possible that U S finns likely to hove Russia is more undertake to credit'i than to undertake more pnrcha e these credits firms in other countriei countrie s -- may find it cheaper to purchase frrn1s program aid program costly lbis is the free market being allowed to work not a foreign aid costly efforts at home This As actual amount of trading that may take place with Russia that is to be determined by the actual for the As for hus to sell Also it is important tu the Russia has to the market as well as by exactly how many credits Ruc sia purchac e remember that other countries in addition to the U S will have the ability to purchase these remember creditc credits