EGP nudges higher vs. USD in early Thursday trading    Global electricity demand to surge through 2026 – IEA    Japan's c. bank holds key interest rate    Egypt, US FMs discuss Gaza crisis, Nile water security    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Debt and doubt loom large over Durban climate talks
Published in Almasry Alyoum on 06 - 12 - 2011

DURBAN, South Africa — Economic crisis and the top three polluters China, the United States and India, loomed as obstacles to a new global deal at the start of a second make-or-break week of UN climate talks in the South African city of Durban.
After a first week of preliminary discussion, serious doubt hangs over the future of the Kyoto Protocol, whose first commitment period on tackling climate change expires at the end of next year.
The other major issue for debate is how to drum up finance to help poorer nations adapt to a warmer planet, while the developed world wrestles with sovereign debt problems.
China, the world's biggest carbon emitter, gave a lift to the climate talks at the end of last week by suggesting it might sign up to a legally-binding deal to cut emissions, but it has set conditions.
"China has talked about a legally binding deal after 2020. The question is if China will be legally-bound. That would be interesting," EU Climate Commissioner Connie Hedegaard said.
China failed to answer that question at a news conference and a European diplomatic source said it was bluffing.
"There's no way China will sign up legally, but it doesn't want to be blamed if the talks fail," the source said, asking not to be named.
China's conditions include that other big emitters sign up and that finance is provided under a Green Climate Fund agreed at talks last year in Cancun, which aims to channel up to US$100 billion a year by 2020 to help developing nations.
The US special envoy for climate change Todd Stern said China's conditions were not acceptable.
"In order for there to be a legally-binding agreement that makes sense, all the major players are going to have to be in with obligations and commitments that have the same legal force," Stern said.
"That means no conditionality, no condition of receiving the financing, no trap doors, no Swiss cheese [with holes] kind of agreement."
In the United States, the second largest global emitter, environmental issues have become a flashpoint for argument between President Barack Obama's Democrats and the Republicans. A reluctant upper house, which failed to pass a climate bill last year, would block any deal to revive Kyoto.
The United States signed, but did not ratify Kyoto. One of its issues is that the boundaries between developed and developing nations have shifted and all big emitters should now be included on an equal basis in any new agreement.
India, the third biggest carbon emitter, has also stated it is not ready for a new binding agreement.
It argues its economic development is not as strong as China's and it should not be asked to take on legal targets for cutting emissions.
Neither India nor China is included in the goals set under the first commitment phase of the Kyoto Protocol, as they were regarded as developing when it was adopted in 1997.
The European Union has sought to take a lead in breaking the deadlock by promising to back a new agreement, but it too has a condition. It wants guarantees, which it has labeled a road map, that other big emitters will sign up too.
"Europe only accounts for 11 percent of global emissions, therefore a second commitment period with only Europe and a few other countries, it's hard to see how anybody could label that a huge achievement for the climate," Hedegaard said.
Focus on economic crisis
Europe's leadership has been undermined by the huge strain it is under from a sovereign debt crisis that is threatening to destroy the euro.
It is hoped a credible plan to prop up the single currency will emerge at an EU summit on Friday, also the last day of the UN climate talks in Durban.
"Negotiators can't look for a new angle from prime ministers on Friday as they can't take their focus off the eurozone crisis," said Alden Meyer, director of strategy and policy at the Union of Concerned Scientists. "That's the only issue on the agenda."
Negotiators have said there is no longer time to get new commitments sealed before the Kyoto Protocol's commitment period runs out at the end of the year, so they are instead aiming to agree on when new commitments can be forged.
The EU's aim is for a deal by 2015 to take effect by 2020 at the latest. The Kyoto Protocol only came into force eight years after it was adopted.
The commitment period for the developed nations to cut emissions by a minimum of 5 percent is just one clause in the Kyoto Protocol, the companion legislation to the United Nations Framework Convention on Climate Change (UNFCCC).
Without a new commitment period, the rest of the related agreements remain intact, but do not enforce action on lowering emissions.
South Africa, as host to the climate talks, is keen for another Kyoto Protocol, but is aligned with nations arguing that historically it has been responsible for very little of the pollution that is overheating the planet.
Now, it is among those most vulnerable to drought and crop failure associated with a warmer climate.
Underlying the need for urgent action to cap further temperature change, a report UK Met Office report released in Durban on Monday forecast global temperature would rise between three and five degrees Celsius this century if emissions are left unchecked.
A study released on Sunday found that even in a weak global economy emissions, which hit record levels last year, were still rising.


Clic here to read the story from its source.