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