Industry Minister Ian Macfarlane told The Australian newspaper that such proposals were "a very long way from our thinking at the moment".

"I think the adoption of new technologies to lower greenhouse emissions will come without any punitive measures."

Australia joins the US, China, India, Japan and South Korea in the APPCDC, a partnership intended to promote environmentally responsible practices without causing undue economic stress.

Australia will host the first meeting later this year of the Asia-Pacific Partnership on Clean Development and Climate, comprising Australia, the US, China, India, Japan and South Korea.

The new grouping rejects the model of the Kyoto protocol, which sets binding targets for reductions in emissions.

It will instead emphasise the developmentg of new technologies to reduce or capture carbon dioxide pollution.

Collectively, the member nations produce around half of global greenhouse gas emissions and the compact is based on developing and distributing clean energy technologies that can meet growing energy needs without compromising the environment.

The partnership has been given a tentative welcome by the United Nations Environment Programme (UNEP), saying it was a step forward for nations to admit to the role of human activity in greenhouse emissions, but that its voluntary nature should not be considered a replacement for the standards set by the Kyoto Protocol.

“It is important to mention that this new initiative is not a substitute for the Kyoto Protocol, its legally binding emission reductions and its various flexible mechanisms including emission trading and the Clean Development Mechanism,” said UNEP head Klaus Toepfer.

“Rapidly developing economies like China and India need new and more efficient energy technologies if they are to lift their populations out of poverty without compromising the environment or destabilising the global economy.”

Critics of the partnership claim it introduces nothing new but reaffirms the goals of the US and Australia in emphasising economic development over mandatory emissions regulations, saying that energy technology sharing programs are already in operation between most of the nations involved.

“I don’t see this announcement as a threat, but it reflects a way of thinking that could threaten effective action,” said energy economist Michael Grubb from London’s Imperial College.

“Technology cooperation is being presented as an alternative to the hard issues of building incentives for energy efficiency and low-carbon technology investment by the private sector, which has to include regulating carbon emissions.”