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Canada Mulls Kyoto Protocol Exit

Nation could save up to $6.7 bln by pulling out of climate-change agreement.

By Jeremy van Loon | Updated on December 05, 2011

Canada, the country furthest from meeting its commitment to cut carbon emissions under the Kyoto Protocol, may save as much as $6.7 billion by exiting the global climate change agreement and not paying for offset credits.

The country’s greenhouse-gas emissions are almost a third higher than 1990 levels, and it has a 6 percent CO2 reduction target for the end of 2012. If it couldn’t meet its goal, Canada would have to buy carbon credits, under the rules of the legally binding treaty.

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