EDIT
These days, when it comes to the climate talks set for Copenhagen in December, optimism is in short supply. Far from resulting in a deal to succeed the expiring Kyoto Protocols, many now fear that the outcome of Copenhagen talks will be meager indeed.
"A fully fledged new international treaty under the (United Nations Framework Convention on Climate Change -- UNFCCC) -- I don't think that is going to happen," Yvo de Boer, head of the UNFCC told the Financial Times on Tuesday. "If you look at the limited amount of time remaining to Copenhagen, it's clear."
The problems facing the global community when it comes to efforts at shaping an agreement to combat climate change are myriad. Two issues, however, have emerged as the greatest stumbling blocks. Firstly, despite President Barack Obama's commitments to make CO2 emissions reductions a priority of his presidency, the US has yet to pass binding legislation. A bill continues to languish in the Senate and is unlikely to be passed before the end of the year. And without clarity from the US, many other countries are wary of accepting binding reduction targets.
Secondly, developing nations are going to need a huge amount of financial assistance in order to both adapt to climate change and cut their own emissions. As yet, where that financial aid is going to come from remains unclear. But it is highly likely the European Union will be asked to contribute -- and there is little consensus on how to divide the bill for the up to €15 billion the member states might owe. On Tuesday, a meeting of European Union finance ministers made little progress on the issue with many poorer EU countries expressing unwillingness to pay into such a pot.
EDIT
http://www.spiegel.de/international/world/0,1518,656424,00.html
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