Tagged: Climate Deal

China-led bloc to consider Kyoto climate pact future

Reuters | Wed Apr 21, 2010 | 12:19pm IST

A bloc of the world’s fastest growing carbon emitters, seen as key to a global deal on climate change, appears for the first time willing to discuss the future of the Kyoto Protocol to get the United States on board. Kyoto binds about 40 rich nations to cut emissions by 2008-12 and developing countries want a tougher second commitment period. That demand is opposed by many developed nations that want to jettison Kyoto to include emerging markets like India and China. Next week’s meeting of the environment ministers of Brazil, South Africa, India and China – the so-called BASIC nations – will look at ways to bridge a trust deficit with rich nations, according to its agenda, a copy of which was obtained by Reuters.

"How long will the Kyoto Protocol survive? Could we envisage a shorter second commitment period designed solely to secure carbon markets?" said the agenda of the meeting to be held in South Africa on April 25-26. "If no second commitment period, what would replace Kyoto?" was another question listed on the agenda. Unmitigated distrust between rich and poorer nations about who should do how much has stalled negotiations for a global deal to fight climate change. Officials say they are less hopeful of a broader deal in Mexico in November. So a willingness on the part of the BASIC nations to soften their stand on the Kyoto Protocol could help break the negotiations logjam and bring on board the United States which never ratified the protocol.   

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ANALYSIS – Climate deal won’t cap warming, big gaps

Reuters | COPENHAGEN | Sat Dec 19, 2009 | 6:04am IST

A climate deal among world leaders including U.S. President Barack Obama puts off many tough decisions until 2010 and sets the planet on track to overshoot goals for limiting global warming. Obama spoke of “the beginning of a new era of international action” but many other leaders said it was “imperfect”, “not sufficient” and at best a “modest success” if it gets formally adopted by all 193 nations in Copenhagen on Saturday. Problems faced by China and the United States — the world’s top emitters — stood in the way of a stronger deal for the world’s first pact to combat climate change since the U.N.’s Kyoto Protocol in 1997.

In big advances, the deal adds a promise of $100 billion a year to help developing nations from 2020 and promotes the use of forests to soak up carbon dioxide. But it is unclear where the cash will come from. European leaders fell in reluctantly after Obama announced the deal with China, India, South Africa and Brazil. It was drafted by 28 nations ranging from OPEC oil producers to small island states. A drawback is that the deal is not legally binding — a key demand of many developing nations. The text instead suggests an end-2010 deadline for transforming it into a legal text that had long been expected in Copenhagen.     Continue reading