November 2, 1998
Update on Global Governance: The latest UN Conference
Report by Eagle Forum Correspondent Cathie Adams in Buenos Aires, Argentina.

   Day 1

Day 2

Day 3

Day 4

Day 5

Day 6

Day 7

Day 8

Day 9

United Nations Framework Convention on Climate Change
Fourth Session of the Conference of the Parties

November 2-13, 1998

In Buenos Aires, Argentina, representatives from some 180 governments are meeting from 2 to 13 November to develop schemes for reducing greenhouse gas emissions as required by the 1997 Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC).

The United Nations claims that greenhouse gases--mostly carbon dioxide, the gas humans and animals "breathe out" and is also produced when burning fossil fuels--are causing the earth to warm. It ignores much scientific evidence that the earth is cooling rather than warming and even disregards the possibility that sun activity could cause fluctuating earth temperatures!

America first became involved in the global warming debate when former President Bush agreed to "voluntary" standards intended to reduce greenhouse gases at the 1992 UN conference in Rio de Janeiro. Then last December in Kyoto, Japan, the Clinton-Gore administration agreed to "legally binding" emission standards set at 7% below 1990 levels that are to be accomplished between 2008-2012. Taking into account the normal growth of U.S. industries, the Treaty would require us to reduce our industrial output by one-third even though the Treaty has yet to be presented to the Senate for ratification. Two-thirds of that body must vote in favor of it in order for it to become law.

America is one of only 34 industrialized nations required to reduce greenhouse gas emissions. Delegates at this UN meeting are to hammer out three schemes intended to reduce emissions levels. The first scheme is an "emissions trading" (redistribution of wealth) regime that would allow developed countries that reduce emissions beyond their agreed target to sell the excess emissions credits ("hot air") to others. Hotly debated will be whether to create a concrete ceiling on how many credits a country can buy or sell.

The second scheme called a "clean development mechanism" would enable industrialized countries to finance emissions-avoiding projects in developing countries and receive credit for doing so. This new avenue would allow governments and private corporations to transfer and promote "clean technologies" and wealth.

Additional Reading
The Costs of Trading in the Global Economy
Global Goals: Bailouts, Bosnia, Lies, and Hot Air
Global Goals of the Clinton Administration
Will Treaties Rule America's Future?
The third scheme to redistribute wealth is called "joint implementation" which will also provide credit for investments in projects, but only in other developed countries.

The Kyoto agreement is not legally binding until 55 countries, including developed countries accounting for at least 55% of developed country emissions, have ratified it. The U.S. should tell the UN that it should take its "hot air" treaty to the nearest dumpsite and add it to the landfill.