Australia, NZ delay decision on signing Kyoto 2

LONDON, May 2 - Australia and New Zealand have missed a deadline to set post-2012 emission reduction targets under the Kyoto Protocol, with both governments saying they will decide whether to continue to be legally bound to cut emissions of seven greenhouse gases later this year.

LONDON, May 2 - Australia and New Zealand have missed a deadline to set post-2012 emission reduction targets under the Kyoto Protocol, with both governments saying they will decide whether to continue to be legally bound to cut emissions of seven greenhouse gases later this year.

Countries intending to sign up to a second round of targets under the 1997 treaty were scheduled to notify the U.N. by Tuesday.

But Australia and New Zealand, both of which plan to launch emissions trading schemes and have been tipped to take on fresh legal targets from 2013, failed to meet that deadline.

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