Howard's Kyoto resistance could be costing billion

September 9, 2007
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THE Howard Government's refusal to sign up to the Kyoto Protocol to reduce greenhouse gases is costing Australian businesses about $3.8 billion a year, a study has found.

The report by respected environmental consultant Cambiar said the country was missing out on economic activity because local businesses could not fully participate in the $37.5 billion global carbon market, which last year alone tripled in value.

"This is the first time this analysis has been done and what we have found was that a significant opportunity has been forgone because we are not participating fully in the Kyoto process," Justin Sherrard, one of the report's authors, told The Sunday Age.

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