The international policy on climate change has already been a central issue of the joint initiative that we have presented at the 19th Special Session of the United Nations General Assembly on June 23 1997 in New York.

Moved by our common concern to ensure that the Earth`s climate receive urgently required protection and in view of the still extremely difficult state of the negotiations, we urge the Parties to the Framework Convention on Climate Change to adopt at the forthcoming Third Conference of the Parties in Kyoto a protocol or other legally binding instrument which will reflect the great importance of global climate protection to the whole of mankind.

This document must contain legally binding commitments for the developed countries to significantly reduce greenhouse gas emissions. We refer in this respect to the proposal supported by our countries, according to which, the developed countries, either individually or jointly, will have to reduce emissions of the three most important greenhouse gases (carbon dioxide, methane, and nitrous oxide) by at least 7.5 per cent by the year 2005 and by 15 per cent by 2010, compared with 1990.

The required reductions are to be carried out primarily at the national level. In addition, the flexible implementation of binding reductions among the developed countries could be considered. In this context, the Kyoto Conference should consider the use of joint implementation among developed countries in accordance with rules and criteria to be agreed upon.

Binding targets in a climate protocol are especially credible if there are effective rules for verifying compliance. In this connection the proposal that proportional contributions by those developed countries failing to comply with the Protocol targets be made available for climate protection measures in developing countries could be a contribution to the effectiveness of the rules.

All nations on earth must cooperate with one another in order to safeguard our climate system for future generations. We recognize that in the longer term a truly global effort by all countries is needed, in accordance with their common but differentiated responsibilities, in order to move towards achieving the ultimate objective of the Convention. We recognize the need for sustainable economic growth in developing countries and regard technological cooperation and financial assistance to be a part of our long-term efforts. Hence the Kyoto Conference should also consider measures to advance access to or transfer of technology, as well as financial assistance in order to assist developing countries in meeting their commitments.

In Kyoto, the developed countries are called upon to demonstrate their responsibility for climate protection by committing to reduce their emissions of greenhouse gases significantly below the 1990 levels. The developing countries too should consider their long-term role in making further appropriate contributions in the future to global protection based on the principle of common but differentiated responsibilities and in connection with the progress made by developed countries in Kyoto.