Good news on Kyoto

New Zealand has ratified Kyoto and the Canadian parliament has endorsed the treaty, clearing the way for ratification. Provided Russia ratifies (this seems certain, but you can never be sure with Russia) the treaty will now come into force.

The Canadian report includes an estimate that the economic cost of Kyoto will be around 0.4 per cent of GDP. This is consistent with estimates made here by both supporters and opponents of Kyoto.