Wed, Oct 01, 2003 - Page 7 News List

Putin wary of signing Kyoto Protocol

CLIMATE CHANGE The Russian president joked that global warming might save people money on fur coats as he backed away from a pledge to swiftly ratify the pact

REUTERS , MOSCOW

"You would have to spend less money on fur coats and other warm things," he said, adding that farm output would rise.

But he also said that Russia realized that climate change would cause damage from droughts to floods around the world. Moscow's overall decision would take account of "social, economic and ecological" disruptions, he said.

Kyoto aims to cut the emissions of greenhouse gases by developed nations by 5.2 percent below 1990 levels by 2008 to 2012 and will only take force after states accounting for 55 percent of emissions, mainly carbon dioxide, have ratified the pact.

So far, nations representing 44 percent of emissions have ratified but Moscow's 17 percent gives it a veto. The US had a 36 percent share but pulled out, arguing Kyoto was too costly and wrongly excluded developing nations.

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