According to a senior trade and industry official, Japan believes that using 2005 as the base year for calculating cuts in greenhouse gas emissions would be more equitable than using 1990 as the base year. Japan argues that it would be unfair to hold Japanese industry accountable for emissions cuts based on investments made in energy efficiency two decades ago. While Japan has not officially declared a new base year, Takao Kitabata, vice minister at the Ministry of Economy, Trade and Industry, suggested that 2005 would be a fair option. However, this proposed change may face opposition from the European Union, which has committed to reducing greenhouse gas emissions by 20 percent by 2020 compared to 1990 levels. Approximately 190 countries came to an agreement during UN-led discussions in Bali to begin two-year negotiations for 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 from 1990 levels between 2008 and 2012. The successor to Kyoto would involve all nations, and countries acknowledged the necessity of significant reductions in global emissions according to the "Bali roadmap." However, there are significant disagreements regarding the specific targets and the reference year for these targets.