Australia's plan: Pay to buy a greenhouse gas quota

As the host of the APEC Summit, which will take place in September, Australia is currently promoting the adoption of an emissions business model among APEC members, aimed at controlling greenhouse gas emissions.

The plan will be based on the basic principles of the Asia-Pacific Cooperation group on clean development and climate - with the participation of six countries (AP6) including Australia, China, the US and Japan. Edition, South Korea and India, will also be expanded to other partners in the region. The plan is in the form of this proposal based on finding a " mechanism " to control greenhouse gas emissions.

Under this mechanism, when the emissions of a certain country exceed the permitted level, the country will have to spend money to buy additional " quota ". If it comes true, this is the first time the United States has actually participated in an international action to prevent global warming. In addition to the countries in APEC, some other European countries are also expected to participate in this plan.

Countries with more developed industries will have to pay poor countries to buy greenhouse gas "quota" (Photo: Typepad)

Earlier, Australian Prime Minister John Howard repeatedly refused to set a goal to cut greenhouse gas emissions. But there are indications that Mr Howard is expected to change his " conservative " viewpoint later this month. Analysts predict Mr Howard's proposal will not give an official target for cutting greenhouse gas emissions, but will contribute to limiting the consumption of fossil fuels - for example. coal, by pushing prices up.

In the work plan announced to APEC leaders in March, Mr. Howard affirmed that it will bring climate change into the APEC Conference agenda and will proceed next. The plan is based on AP6's philosophy of technology transfer, such as clean coal technology, to limit greenhouse gas emissions but at the same time do not compromise economic development. Three weeks ago, Mr. Howard announced a global initiative to combat deforestation, especially in Indonesia. Even so, analysts say Australia will only accept a mechanism that will not affect Australia's economy or put it at a disadvantage in business.

APEC members currently consume more than 60% of the world's energy, while the energy demand for the Asia-Pacific region is expected to double in the next 20 years. This plan is expected to be the best way to control and limit emissions, and can also serve as a sign of ending long disagreements about greenhouse gas control with participation. The countries with the largest emissions are China, the United States and India.

Huong Giang