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INTERNATIONAL RESPONSE

Global climate change is an energy and environmental issue that will remain at the top of the international policy agenda for decades to come. The international community, recognizing the danger associated with ever increasing greenhouse gas emissions, agreed upon the UN Framework Convention on Climate Change in 1992. Upon ratification, the UNFCCC entered into force in March 1994. The Conference of the Parties (COP) is а governing body of the Convention. The first Conference of the Parties was held in 1995. On July 16-27, 2001 Bonn hosted the resumed Cop-6. The summary prepared by the Pew Center on Global Climate Change outlines the major results of this meeting. The Seventh Conference of the Parties (Cop-7) to the United Nations Framework Convention on Climate Change (UNFCCC) was held in Marrakech, Morocco from October 29 to November 10, 2001.

On February 24, 2002, U.s. President announced the initiative to cut the power plant emissions and а new strategy for addressing global climate change. The clear skies policy book

A Report prepared by the U.s. National Academy of Sciences reaffirms the earlier IPCC conclusions that global warming has anthropogenic causes. President Bush in his remarks on June 11 noted the importance of the global climate change problem and introduced new U.s. approaches to reduce GHG emissions. On July 13, President Bush announced initiatives to be undertaken by his government to further the climate change studies. The U.s. delegation to the Cop-6(2) confirmed its position not to ratify the Kyoto Protocol.

The Kyoto Protocol adopted at the third meeting of the Conference of the Parties to the UNFCCC in December 1997, was а significant step forward in addressing climate change issue. Annex B countries (industrialized countries and economies in transition) have collectively agreed to reduce greenhouse gas emissions by some 5% below 1990 levels by the first commitment period 2008 to 2012. For different countries the target level of greenhouse emissions varies (see Table 1).

Table 1

Emission reduction targets of some UNFCCC Parties based on % of 1990 levels

Developed countries		Countries in transition
Australia	108%	Baltic countries	92%
Canada	94%	Bulgaria	92%
EC	92%	Croatia	95%
Germany	92%	Czech Republic	92%
Japan	94%	Hungary	94%
New Zealand	100%	Poland	94%
Norway	101%	Romania	92%
Portugal	94%	Russia	100%
USA	93%	Ukraine	100%

To achieve this collective objective of reducing greenhouse gas emissions, individual Annex I countries have been set different targets. Ukraineъs requirement is to limit the growth of greenhouse gas emissions in the target period to 1990 levels. The emissions reductions applies to all sectors including stationary energy, transport, other industry, wastes, forestry and land use change. All six greenhouse gases, carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulphur hexafluoride, are included.

Achieving this target will be а significant challenge for developed countries. It will require full implementation of domestic greenhouse reduction measures and effective use of the flexible mechanisms adopted by the Kyoto Protocol [bubbles, emissions trading, joint implementation, and clean development mechanism].

The Memorandum of Intent signed by Ukraine with the U.s. have addressed cooperation in climate change issues. Finally, the rules and procedures for compliance with the UNFCCC and participation in emissions trading and Joint Implementation are being negotiated at а series of international meetings. Effective participation in these meetings by Ukraine can affect the timing and size of investments under JI and emissions trading.

The following agreements were signed by the Ukrainian government:
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UN Framework Convention on Climate Change - The landmark international treaty unveiled at the UN Conference on Environment and Development (the Rio Summit) in June 1992.
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Kyoto Protocol - The document which follows is the final text of the Kyoto Protocol to the United Nations Framework Convention on Climate Change.
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Memorandum of Intent Between The Government Of The United States of America And The Government of Ukraine on Cooperation on Climate Change Initiatives
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