The United States applauds Argentina's announcement and supports the development of a process for international acceptance of Argentina's target as soon as possible. The United States also supports Argentina's call upon the Parties to create a way in which Argentina and other developing countries that voluntarily adopt appropriate targets may benefit from all the Kyoto mechanisms. Although the Parties deferred action on the request, Kazakhstan's action clearly signaled its continued willingness to take on a binding emissions target for the 2008-2012 time period. These actions signaled a continuing shift in the terms of the international debate on developing country participation, first seen last year in Buenos Aires. Greater engagement in Bonn on the part of developing countries was evidenced in other areas as well, including heightened enthusiasm on the part of many for the Clean Development Mechanism and constructive participation in efforts to forge agreement on emissions trading, joint implementation, sinks, compliance, and other key issues.
Climate change is a global problem requiring a global solution.
Thus, securing more meaningful participation from key developing countries remains a top priority for the United States. Trading encourages reductions where they can be achieved at the lowest cost, thus getting the world the most greenhouse gas reductions for each available dollar, euro or yen. Industrialized countries will be able to use certified emissions reductions from projects in developing countries to contribute to their compliance with greenhouse gas reduction targets. Countries with emissions targets may get credit towards their targets through joint project-based emissions reductions in other such countries. The first commitment period will be 2008-2012.