Office of the Press Secretary
President of the United States Clinton and President of the Russian Federation Putin reaffirm the commitment of the United States and the Russian Federation to cooperate in taking action to reduce the serious risks of global warming. They take note of the significant contributions to environmental protection made by the U.S.-Russian Joint Commission on Economic and Technical Cooperation under the co-chairmanship of Vice President Gore and the Prime Minister of the Russian Federation.
The Presidents declare their conviction that national and global economic growth can be achieved while continuing to protect the global climate. They note with approval the close cooperation of the two countries in multilateral negotiations to elaborate upon elements of the Kyoto Protocol to the U.N. Framework Convention on Climate Change. The Presidents stress the importance of fully developing the Protocol's flexibility mechanisms, including international emissions trading and joint implementation, which are essential to achieving countries' greenhouse gas (GHG) emissions reduction commitments under the Protocol. They believe transparent rules for these mechanisms must be developed.
The Presidents further note the potential of the Kyoto Protocol mechanisms to promote investment in all areas where it is possible to limit or reduce GHG emissions. They reaffirm the opposition of the U.S. and Russian governments to proposals that limit the Kyoto Protocol mechanisms by placing quantitative restrictions on the transfer of Parties' assigned amounts. The Presidents reiterate the commitment of their governments to work for agreement on these and other issues at the Sixth Meeting of the Conference of the Parties taking place in The Hague in November of this year.
Building upon previous joint accomplishments, the U.S. and Russia plan to continue their cooperation on the problem of global climate change.
President Clinton declares the intention of the Government of the United States of America to continue cooperation with Russia in the measurement and reporting of GHG emissions, the development of market-based tools for managing those emissions, and the identification of specific opportunities in Russia to further reduce or sequester those emissions.
President Putin, noting the significant contributions made by the Russian Federation to reduce emissions of greenhouse gases, declares the intention of the Russian Federation to expand and strengthen the mutually-beneficial U.S.-Russian cooperation in the area of the fight against global warming, paying special attention to the activities of the Joint Russian-American Climate Policy Working Group.
Through these actions, Presidents Clinton and Putin express their conviction that effective steps can be taken by political leaders, and by leaders in scientific, business, and other circles, to protect the planet that we share from the threat of global warming.
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