Climate negotiators’ failure last week to set emission-limiting rules for the Kyoto Protocol’s extension through 2020 was down to one paragraph on Ukraine’s greenhouse-gas targets, according to the European Union.
Market mechanisms such as the European Union’s emissions-trading system still have “deep roots” in the United Nations climate talks after negotiators failed to adopt major decisions this year, the head of a trading lobby said.
Envoys from almost 190 nations endorsed a program that sets out steps toward the next agreement aimed at reducing global warming, after accepting a compromise that watered down the responsibilities of developing nations such as India and China.
United Nations global warming talks went hours into overtime as industrialized and developing nations bickered over timetables to boost financial pledges and setting commitments for reducing emissions.
China and India said they want to see revisions to one of the key texts outlining the conclusions of the United Nations climate talks, a move that threatens to unravel an agreement at the conference in Warsaw.