Gordon Brown Hails New Carbon Partnership

British PM hails new carbon partnership

The British Prime Minister has welcomed the launch of a new international partnership aimed at promoting and improving carbon trading.

In a recorded message, Mr Brown called the launch of the group in Portgual today a "significant step forward" in the fight against climate change. Building a global mechanism for trading carbon emissions is "fundamental" to reducing greenhouse gases while enabling economic development, he said.

The International Carbon Action Partnership (ICAP) will provide a forum for countries currently engaged in cap and trade initiatives with the aim of establishing a wider and more coordinated global market. The UK has signed up to ICAP along with Germany, France, Portugal and the state of California amongst others.

The PM said:

"The launch of the International Carbon Action Partnership is a truly significant step forward in the global effort to combat climate change.

"Building a global carbon market is, I believe, fundamental to reducing greenhouse gas emissions while allowing economies to grow and prosper. Trading emissions between nations allows us all to reach our greenhouse gas targets more cost-effectively. And it therefore allows us to reduce emissions by more than we could by acting alone."

The Prime Minister's words came as the Government published its Climate Change Bill detailing a list of measures aimed at reducing emissions and creating a low carbon economy. Releasing the report, Envirionment Secretary Hilary Benn said it was time to "step up the fight" on climate change.

The UK has set its cap for the second phase of the European trading scheme, from 2008 to 2012, at 13 percent below its 2005 emissions. Last week the PM said that the UK also remained committed to targets on the development of renewable enrgy sources.

ENDS

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