The position of the White House is arguably the most difficult of any government in the talks. Barack Obama, US president, has made clear that he is in favour of an international framework on climate change, in which the US would take on stiff targets for cutting emissions alongside other developed and developing countries.

Two years of tense negotiations on climate change are coming to an end next week in Copenhagen. Twelve years after similar talks produced the flawed 1997 Kyoto protocol, and two decades after international efforts to tackle climate change started, governments are at last preparing to draw up a global framework on greenhouse gases.

Two years ago Alejandro Casta

The world's carbon trading systems are at a crossroads, facing either decline and failure or a huge explosion of investment. Which way they go will depend on what is decided at the climate change conference starting in Copenhagen next week.

Rescuing the much criticised United Nations' scheme and rendering it fit for a potentially big expansion will be high on the agenda.

The United Nations scheme was agreed under the 1997 Kyoto protocol as a key part of the overall strategy to fight global warming. It awards tradeable carbon credits to projects that reduce developing countries' greenhouse gas emissions - such as wind farms.

With a shy smile and a retiring manner, Liu Deshun has the slightly bedraggled appearance of an ageing professor. But make no mistake: this academic at Tsinghua University in Beijing is one of the world's most powerful players in the rapidly growing market for carbon credits.

With a shy smile and a retiring manner, Liu Deshun has the slightly bedraggled appearance of an ageing professor. But make no mistake: this academic at Tsinghua University in Beijing is one of the world's most powerful players in the rapidly growing market for carbon credits.

Jairam Says Pressure On Beijing In Runup To Copenhagen

New Delhi: India hopes that the