Weekend meetings in Bali failed to produce an agreement on the open trade of green goods, and the prospect of mandatory emissions caps for developing nations became less likely.
However, a draft proposal written by delegates from Australia, Indonesia and South Africa says all nations should do more in fighting climate change, and specifically calls on developing nations to slow or halt their increasing emissions levels.
The draft also contains the first mention of possible goals for a new climate treaty to succeed the Kyoto Protocol, which concludes in 2012. The draft states that "preventing the worst impacts of climate change will require (developed nations) to reduce emissions in a range of 25-40% below 1990 levels by 2020."
It continues, stating global emissions of greenhouse gases would have to "peak in the next 10 to 15 years and be reduced to very low levels, well below half of levels in 2000 by 2050."
The draft also lays out three options for continuing negotiations after Bali, and delegates are to report back today on the ideas, which include non-binding talks over the next two years and a deadline for a new global treaty at the U.N. meeting in Copenhagen in late 2009.
Brazil was the loudest dissenting voice concerning a U.S.-E.U. proposal for open trade in green goods. Negotiations on the proposal involved 32 nations in an aside to the conference’s major meetings. About 20 finance ministers are expected to join the fringes of the conference today and tomorrow to take up this issue.
The proposal aims to cut import tariffs on a list of 43 environmentally friendly goods, including solar panels and wind turbines. Brazil claims the proposal is a form of protectionism for industries dominated by developed nations.
Brazil pointed to the fact that biofuels, which it produces in great quantities, were not included on the list of goods.
On the issue of binding commitments from developing nations, Yvo de Boer, head of the UN Climate Change Secretariat, "Nothing’s been ruled out." However, he added, "Binding commitments for developing countries are not off the table but are crawling towards the edge."
De Boer said most developed nations are in agreement that it is too soon to demand developing nations to cap emissions, as per capita levels even for heavy polluting nations like India and China are still far below those of the U.S. and other developed nations.
However, it is becoming clearer that an agreement must be reached to satisfy nations including the U.S. Canada and Japan, which are calling for significant measures by India and and China.
De Boer called for a new level of financing to combat global warming that would meet the levels suggested by a U.N. report calling for US$200-$210 billion by 2030. He compared the investment to the "Star Trek" television show, saying "investments will have to go to places they have never gone before."
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