Howard discovers carbon trading

JOHN Howard moved last night to take the lead on creating a global emissions trading system, establishing a taskforce to find ways of reducing greenhouse gases without damaging Australia's economy. Stressing that he would not accept a "new Kyoto that damages Australia", the Prime Minister said: "We need a new Kyoto that includes Australia, but includes Australia on a basis which is appropriate to our interests and our needs." Addressing the annual dinner of the Business Council of Australia (BCA) in Sydney, Mr Howard said he was not a sceptic on climate change. "I think the weight of scientific evidence suggests that there are significant and damaging growths in the levels of greenhouse gas emissions," he said. "And unless we lay the foundation over the years immediately ahead of us to deal with the problem, future generations will face significant penalties and will have cause to criticise our failure to do something substantial in response."