Humanity depends heavily on the various benefits that nature provides us. It's impossible to truly estimate its value. However, economists and environmental scientists have estimated in dollars what it would cost us to accomplish the services nature provides. Using multiple databases, they estimate that nature provides $33 trillion dollars worth of services every year-that's nearly twice the annual Gross National Product (GNP) of all the countries in the world combined. <br /> <br /> Over the years various agreements, protocols and treaties have come into existence to restrict/stop the degradation of these 'services', which are commonly known as 'environment and climate'. Kyoto Protocol is the first climate treaty that would require countries to curb emissions linked to this degradation. The Kyoto Protocol, signed by many of the world's nations at a conference in Japan in 1997, sets targets for countries to reduce emissions of carbon dioxide and other greenhouse gases, which are seen as key factors behind 'global warming'. <br /> <br /> However, since beginning the fate of this treaty was in danger because of the positions taken by the various developed nations. The US, which is the largest polluter, had walked away from this pact two years back. And on 02nd December 2003 it was thought that Russia had put the final nail in the coffin of Kyoto agreement by announcing that they won't ratify this accord. However, the very next day a statement was issued denying the rejection reports. Since then it was generally assumed that the Russians would never ratify this accord. But recently Russian President Vladimir Putin has surprised the world by promising to move quickly on ratification of the Kyoto climate change treaty. This is one of the most significant stages in the history of this protocol and it appears that Putin's U-turn could rescue Kyoto Protocol. <br /> <br /> Kyoto is one of the most intricate environmental treaties ever attempted. It requires industrialized countries-but not developing ones-to make specific cuts in their output of greenhouse gases. The developing world produces six times less pollution per resident than the industrialized world. <br /> <br /> Under the 1997 Kyoto agreement, rich industrialized countries would be committed to reduce emissions of six greenhouse gases by a timeframe of 2008-2012. The treaty needs to be ratified by no fewer than 55 countries, accounting for at least 55% of global emissions in 1990. The EU had made its support dependent on Russia ratifying Kyoto. Since the US has already rejected the treaty, Russia's backing has been vital to bring it into force. <br /> <br /> Two years back the US firmly rejected Kyoto protocol on global warming, saying that the damage the treaty would cause to its economy would also hurt the developing countries in turn. Putin also was of the firm opinion that ratification would hurt the Russia's economy in the long run. Interestingly, the Russian emissions had fallen down since 1990, due to the industrial meltdown, post Soviet disintegration. But now with rapid industrialization the environmental pollution has started rising again and till few months back Putin was not ready to concede fearing damage to local industry. <br /> <br /> The European Union (EU) nations have been the leading proponents of Kyoto agreement since beginning. EU has played a vital role in lobbying for this protocol. However, Russian government did hard political bargaining for promising ratification. They gave in to the EU pressure on Kyoto only in return for an agreement for Russia to enter the World Trade Organization (WTO). Russia's proposed ratification of the accord is also expected to open up significant investment opportunities for European companies in Russia. <br /> <br /> But this is just a beginning, the observers warn that Russia has lot to do to prepare for the pact, and that approval was still not definite. Also, even though the EU is passionate about the protocol but their track record towards capping their own greenhouse gas emissions is not very encouraging. Only Sweden and Britain out of the EU's 15 member states (old Europe) have shown reduction in greenhouse gas emissions. Also Australia has rejected this protocol one year back on the pretext of national interests. <br /> Putin's recent statement is expected to breathe life into the protocol. Ratification by Russia was the last crucial step needed to make Kyoto operational. Russia's acceptance makes Australia and the United States stand internationally isolated. <br /> <br /> Kyoto seeks to restrain emissions of carbon dioxide arising from burning of oil, coal and gas mainly from cars and factories. Russia's acceptance of this protocol is a step in right direction. Now, the Americans and the Australians need to prove that the 'laws of morality' devised by western nations are not only applicable to the developing nations but to themselves also. Russia has shown that it's not the underdeveloped but the developed countries that are going to play the major role towards the future global environmental disasters. <br /> <br /> <em>* Views expressed in this article are those of the author and do not necessarily reflect those of Observer Research Foundation.</em>
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