First of all, regarding meaningful targets, the base year is 1990 and the differentiation of targets falls within the range of 0 to 5 percent. I countries to the Framework Convention on Climate Change would be required to reduce their greenhouse gas emission from 1990 levels, and the targets would be applied to average emissions between 2008 and 2012. This is meaningful if we consider the fact that most countries, except for such countries as the United Kingdom and Germany, are unlikely to realize the stabilization at the level of 1990 by 2000. Japan's proposal is also meaningful compared to the Convention, because targets in the proposal are legally-binding. This would be applied to the first budget period.
Japan has in mind five years.
Our proposal provides that emissions for the second budget period shall not exceed those for the first budget period. This is the first step as far as Japan's proposal is concerned, and is aimed at achieving the long-term objective of the reduction in global per capita CO2 emission to one ton or less. According to the IPCC report, this level should be achieved in order to stabilize the atmospheric concentration of CO2 at the level about twice about what it was just before the Industrial Revolution. With differentiation, Japan's real target would be a 2.5 percent reduction from its 1990 level. However, if we set the base year at 1994, which is much closer to the current condition, Japan would have to reduce its emission by 9 percent.