Not-Kyoto climate pact meeting ends with much hot air
The U.S. and Australia today marked the end of the Asia-Pacific climate summit in Sydney by pledging $127 million to support technology projects that would lower greenhouse-gas emissions. Climate activists derided the commitment from the two big polluters as laughably small; the Kyoto Protocol, which both the U.S. and Australia have spurned, is expected to result in up to $12 billion being spent on clean-technology projects in developing countries by 2012. Enviros also say much of the newly announced funding will go to propping up dirty energy industries rather than promoting clean power sources like solar. The U.S. and Australia, for their part, contend the world should trust big business to reduce greenhouse-gas emissions without any strong government regulations. Said U.S. Energy Secretary Samuel Bodman, “The people who run the private sector … also have children and grandchildren, and they too live and breathe in the world and would like [climate change] dealt with effectively.” Despite all evidence to the contrary.