According to a senior trade and industry official, Japan believes that 2005 would be a suitable base year for calculating reductions in greenhouse gas emissions in a future climate agreement. Japan has rejected the idea of using 1990 as the base year due to concerns about fairness to Japanese industry. However, they have not specified an alternative base year. The Ministry of Economy, Trade and Industry (METI) stated that 2005 would be a fair base year. This proposal may face opposition from the European Union, which has committed to reducing emissions by 20 percent by 2020 from 1990 levels. Approximately 190 countries came to an agreement during UN-led discussions in Bali to begin two-year negotiations on a new agreement to replace the Kyoto Protocol. The Kyoto Protocol currently only requires wealthy nations to reduce emissions by an average of five percent between 2008 and 2012 compared to 1990 levels. The successor to the Kyoto Protocol would encompass all nations, as outlined in the "Bali roadmap," acknowledging the necessity of significant reductions in global emissions. However, there are significant differences of opinion regarding the specific targets and the baseline year for these targets.