The Major Economies Forum took place last week, the 12th gathering of 17 of the world’s biggest greenhouse gas emitters worldwide.
The head of the US climate delegation briefed reporters on the US-led meeting, which was held at the State Department. Apparentely, much of the discussion centered around what should happen when the Kyoto Protocol expires at the end of 2012.
Should a new treaty replace it or should it simply be extended?
The US position remains the same as under Pres. GW Bush. It will not commit to a binding treaty on reducing greenhouse gas emissions if it excludes the biggest emerging economies or if those countries’ commitments are conditional upon financial support from developed countries, reports Reuters.
Todd Stern, US climate change envoy, told Reuters that certain developing countries are seeking "escape hatches" that would let them back off their emission reduction targets if industrialized countries fail to deliver financial support.
The US would only back an agreement that applies "equal legal force to major developing countries" like China, India and Brazil.
The next Climate Change Summit is at the end of November in Durban, South Africa.
Over the years, this political deadlock has made it impossible for the world’s countries to agree on a global treaty.
Stern says he expects the Durban summit will finalize the structure of the Green Fund, from which advanced countries will collectively pay $100 billion a year to help the developing world address climate change.
He also expects to finalize guidelines for transparent reporting and monitoring of emissions and emissions-reduction pledged by countries, reports Reuters.
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