11.   But barring a sharp turnabout by Japan, a climate treaty with binding emissions reductions is unlikely to be one of them.

12.   But critics say this simply puts off the emissions reductions.

13.   But President Clinton has said he will proceed with his domestic plans for emissions reduction in the meantime.

14.   But some environmental groups insist that there is a moral obligation for countries to make a significant amount of their emissions reductions at home.

15.   But, he said, climate change is a highly complex, long-term problem that need not necessarily be attacked with immediate targets and timetables for emission reductions.

16.   Further, industry is virtually unanimous in insisting that developing countries share in emission reductions.

17.   He noted similar emission reductions by India, Mexico and Brazil, which have also raised fuel prices.

18.   In a departure from past smog plans, businesses will be able to chose the most economical and flexible method of achieving their required emission reductions.

19.   In later years, a cap will be placed on greenhouse emissions, coupled with a system to give credits for emissions reductions that companies can save and sell.

20.   In return, the companies will receive credit for their emission reductions.