Unsurprisingly, the APEC leaders meeting in Sydney have signed a statement on climate change, grandly described as the

Sydney Declaration and described by Dennis Shanahan and Cameron Stewart in the Oz as a ‘sweeping triumph’.
It’s unsurprising because once the host nation has proposed a topic, it’s pretty much unthinkable for a meeting like APEC to break up without some sort of agreement, because such agreements commonly have grandiose titles and because the Oz … well, you get the idea.
Most of the attention so far has been focused on the set of initiatives referred to as the “APEC Action Agenda”, which includes various voluntary steps on energy efficiency, reafforestation and so forth. As my co-author Frank Jotzo notes, “In practical terms, that will mean almost nothing”. A fair indication of the significance of this agenda is its treatment by the New York Times, which gives a one-line link to the AP wire service report in which Jotzo is cited. The Washington Post has a story on the Bush-Howard statement a couple of days ago, but nothing so far on the great Declaration.
The really important point, though, is the section on Future International Action which begins “We reaffirm our commitment to the United Nations Framework Convention on Climate Change (UNFCCC).” (Kyoto is a protocol to this convention). There’s more, spelling out the post-Kyoto bargaining process embodied in UNFCCC In other words, the idea that APEC would produce an alternative to Kyoto, or a post-Kyoto agreeement outside the UNFCCC is dead.
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