Bonn 3: More countries talk targets

The early buzz here in Bonn 3 is around all the countries coming forward with options for emissions reduction targets they might offer for a global deal in Copenhagen.

You could nitpick the numbers, but if you step back and look at the big picture you have to marvel that all these nations are coming forward. Industrial nations and developing nations are coming out of the woodwork to put options on the table – really this has never happened before.

Today it was New Zealand who announced a range of possible targets, offering emissions reductions from 10 to 20 percent below 1990 levels by 2020. It appears NZ gross emissions are 24 percent above 1990 levels today, and the country is somewhat unique in that half its emissions come from agriculture.

New Zealand is getting criticism from some environmental groups who see the targets as not very ambitious. Basically the targets are conditional, which means NZ is putting a range on the table and saying it will commit based on what other countries do in Copenhagen. And some environmental groups were really hoping for greater unconditional reductions.

Interestingly, the NZ targets look very similar to those put forth by the EU and recently by South Korea (which announced a range last week). So this is pretty much what you would expect going into a negotiation. Anyway NZ is a tiny player in this, accounting for under half a percent of global emissions.

Much more exciting is that South Korea announced a range of targets last week – and Mexico hinted at doing something similar. This year is the first time so many emerging economies have come forward proactively to talk about getting involved. Historically these nations have been a small source of emissions – so when they come forward it’s because they know it’s in their best interest.

It’s no surprise South Korea is an early mover — it’s already a global poster child for turning technology and innovation into economic growth. Korea said it could set a target from 4 percent below to 8 percent above 2005 levels, and it’s one of the most concrete moves yet by a developing country, along with Brazil’s pledge to cut emissions from deforestation by more than half.

Mexico also hinted last week that it will come to Copenhagen ready with concrete targets. I’m keeping my ears open for more hints.

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