"Australia ratifies Kyoto Protocol"

Prime Minister Kevin Rudd signed the instrument of ratification of the Kyoto Protocol in his first act after being sworn in this morning.

The ratification will come into force in 90 days.

“This is the first official act of the new Australian government, demonstrating my government’s commitment to tackling climate change,” Mr Rudd said in a statement.

Mr Rudd said the ratification was considered and approved by the first executive council meeting of the government this morning.

“The governor-general has granted his approval for Australia to ratify the Kyoto Protocol at my request,” he said.

Under United Nations guidelines, ratification comes into force 90 days after the instrument of ratification is received by the UN, making Australia a full member of the Kyoto Protocol by the end of March 2008.

“Australia’s official declaration today that we will become a member of the Kyoto Protocol is a significant step forward in our country’s efforts to fight climate change domestically - and with the international community,” Mr Rudd said.

He said the federal government would do everything in its power to help Australia meet its Kyoto obligations, including setting a target to reduce emissions by 60 per cent on 2000 levels by 2050.

It also would establish a national emissions trading scheme by 2010 and set a 20 per cent target for renewable energy by 2020...