HARDEV SANOTRA Financial Chronicle

The leader of the Indian delegation, Mr Shyam Saran, says fundamental differences with industrialised countries remained on whether the Kyoto Protocol should be continued or scrapped, with the developed nations wanting a whole new mechanism brought in its place.

Just two days into the Copenhagen conference and the fight is out in the open. Two worlds brought together by one climate-uncertain future. But as yet, the climate conference is a dialogue of the deaf.

SURYA SETHI, India's core negotiator for the Intergovernmental panel on Climate Change, says that at Copenhagen, India will do well by not deviating from the provisions of the Framework Convention on Climate Change, the Kyoto Protocol and the Bali Action Plan.

HARDEV SANOTRA Financial Chronicle

The UN clean development mechanism (CDM) needs a better regulatory framework and a more streamlined decision-making if the system is to be scaled up, according to the World Bank.

Who stands where on the climate front

UNITED STATES
Rejected (and has singlehandedly sunk) the Kyoto Protocol. Wants India and China also to commit to emission cuts. Will have an emission cap-and-trade# regime. Plans to impose trade barriers against countries without a cap-and-trade system. Willing to cut emission by only 17 per cent by 2020 from 2005 level.

Unyielding stances have bogged down the climate negotiations and downgraded the Copenhagen conference

We don

When Barack Obama, US president, decided late last week to attend the final stages of the fortnight-long United Nations climate change conference in Copenhagen, which begins on Monday, the gasp of relief from delegates heading to the Danish capital was almost audible.

Since the inception of the cap and trade model under the Kyoto Protocol, many environmentalists have argued it will do little to cut emissions, but will instead give companies permission to pollute while generating lucrative trading fees for the banks that trade the government-issued allowances which form the backbone of the scheme.