Hodgson welcomes Russia's Kyoto vote

The Government has welcomed Russia's steps towards ratifying the Kyoto Protocol.

Russia's lower house of Parliament on Friday approved the protocol, which gives industrialised nations eight years to cut their collective emissions of six greenhouse gases to 5.2 per cent below 1990 levels.

Despite earlier protests from Russian officials that the pact would hobble the country's humming economy, the State Duma voted 334-73 to ratify the treaty.

Once approved by Russia's upper house and President Vladimir Putin - which is expected - the protocol will have been ratified by 55 countries that accounted for at least 55 per cent of global emissions in 1990.

Without Russia's ratification, that would be impossible because the United States has refused to ratify it.

Pete Hodgson, convenor of the Ministerial Group on Climate Change, welcomed Russia's moves.

"This latest step makes the protocol's coming into force a near certainty," he said.

"Uncertainty for New Zealand business has now evaporated. They can be sure that energy efficiency investments will now generate a greater return.

"They can also be sure that the significant business opportunities that the Kyoto Protocol brings will now come to pass," he said.

"In particular, New Zealand businesses will have opportunities that are unavailable to companies from non-ratifying nations."

- NZPA