Kyoto would boost Europe and Japan economies - reports
Europe and Japan would benefit economically and gain a market share in new technologies if they adopted the Kyoto Protocol on climate change, according to two new reports.
The documents released by WWF, the global environment network, dispute US President George W Bush's claim that reducing global warming pollution is economically harmful.
They said that cutting harmful gases could boost economic performance and industrial innovation, even if the US did not participate in the treaty.
The European report said that unilateral implementation of the Kyoto Protocol by the EU, could give its industries a head start in developing innovative technologies for cutting emissions, and that an early start with climate change policies could lead to big cost reductions for Europe in the future.
Ute Collier, head of WWF-UK's climate change programme, said: "It will give Japan and the EU new opportunities in new markets.
"They can become world leaders in energy efficient and clean, renewable energy technologies."
WWF believes that the conclusions of the reports underline the importance of Japan and the EU seizing the opportunity of the Bonn climate summit to galvanise international support for Kyoto and put an end to the prevarication that has characterised the years of talks.
The group said the EU could achieve between 85% and 95% of its Kyoto target without harming the competitiveness of its economies, with smart policies being able to offset the remaining competitive impacts.
Achieving its Kyoto target could cost the EU as little as 0.06% of its gross domestic product in 2000, a trifling amount for the budgets of the 15 EU nations.
For Japan, the report found that proactive implementation of the Protocol by business could translate into a 0.9% increase in gross domestic product or about $47.3bn.
