The environmental groups also warned about the existing loopholes in the agreement reached at the UN COP 15 on Climate Change held in December of last year in Copenhagen, Denmark. Thanks to these loopholes, the industrialized nations’ emissions could even increase in up to nine per cent.

“Europe must commit to 40% emissions cuts by 2020 without offsetting”, reads a press release issued on Friday by Friends of the Earth Europe. The developing countries are also demanding an emissions reduction of at least 40%.

A study published by the Stockholm Environment Institute and the Third World Network during the talks in Bonn showed that due to certain loopholes in the Copenhagen Accord, rich countries could, in fact, actually increase their CO2 emissions.

Some of the loopholes include Clean Development Mechanisms, carbon offsetting schemes that enable rich countries to buy certificates generated by emission reduction projects in the global South, thus avoiding domestic reductions, which are compulsory under the Kyoto Protocol. Another loophole involves international aviation and shipping emissions, which are not included in the reduction programs proposed by the industrialized nations.

The study of the Stockholm Environment Institute and the Third World Network shows that unless these loopholes are taken into account, the emissions reductions of the industrialized nations would be of only 12 to 18 per cent with their current pledges. But, if all the non accountable emissions -as a result of these loopholes- are considered, there could be a 9 per cent pollution increase.

“Industrialized countries pledged a modest reduction in their emissions at the Copenhagen talks last year, but these loopholes would actually allow them to grow them substantially well into the future,” said Sivan Kartha, senior scientist at the Stockholm Institute, The Guardian reported.

“This means they [rich nations] need not do anything to hold emissions. They could accumulate huge amounts of credits to continue business as usual,” he said.

Meanwhile, Lim Li Lin, a legal specialist of the TWN said: “The more we look into the loopholes the worse it gets. The whole thing begins to look like a farce”.

David Heller, climate campaigner for Friends of the Earth Europe, said: “It’s outrageous that loopholes in the targets mean Europe won’t even fulfill the commitment it has made to an inadequate 20% reduction in emissions by 2020. The massive amount of offsetting allowed in the agreement cancels out all meaningful reductions. Developed countries must stop hiding behind technicalities in the negotiations and close these loopholes”

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