FinSoul: China and other developing nations may bring Copenhagen to a standstill.

Dec. 3, 2009 - PRLog -- FinSoul sources report that with just days to go before the start of the UN led Copenhagen climate talks, China and other major developing nations including South Africa, Brazil and India have rejected central targets for the long anticipated climate deal and have reiterated their demands that richer, industrialized nations such as the U.S. do more.

The four nations have turned down core goals laid out in a draft Danish document, such as halving global greenhouse gas emissions by 2050 and setting a 2020 deadline for the world’s emissions to peak before they start to decrease annually, as well as limiting global warming to a 2 degree Celsius above pre-industrial time’s level.

China, the world’s heaviest CO2 emitter has long demanded that richer nations do much more to cut emissions before they commit to any agreement on global emissions targets, fearing that these targets could negatively impact the economic growth of developing nations, FinSoul believes.

Many industrialized nations have volunteered emission cuts significantly below those required by the UN, with the United States recently offering only 17%.

This ongoing dispute, FinSoul understands, between richer and poorer nations has dogged the 2 year long talks leading to the Copenhagen negotiations where it was hoped a successor pact to the Kyoto Protocol would be finalized. A legally binding treaty is now no longer a possibility, but many national leaders still believe a political agreement can be achieved.

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