PREDICTED IN WORLD CLIMATE FIGHT – A RACE TO THE WIRE

Industry, analysts warn climate talks may go down to the wire
Krittivas Mukherjee and Muriel Boselli (w/Gerard Wynn and Andrew Roche), 14 October 2009 (Reuters)

"The world may have to wait until the dying seconds of a U.N. climate summit in December for a global deal to channel business dollars into low-carbon energy, industry and analysts said…[adding that] progress so far in U.N.-led climate talks was inadequate to guarantee the future of low-carbon markets which could transform how the world gets its energy.

"Political posturing may delay a deal until midnight on the last day of the Dec. 7-18 talks, said the head of the U.N. climate panel Rajendra Pachauri -- who was nevertheless hopeful of a deal to put the world 'on the right path.'"

From tcktcktckorg via YouTube

[Rajendra Pachauri, Chair, UN Intergovernmental Panel on Climate Change (IPCC):] "The wiggle room is there even at the stroke of midnight when the conference is ending…"

"International Energy Agency head Nobuo Tanaka was unsure of the outcome of the U.N. talks, which re-convene in Barcelona on Nov. 2, but said recession had given the world a head start by causing the biggest drop in carbon emissions in 40 years…"



"Business leaders said measures taken so far were inadequate to mobilise the billions of dollars needed to convert the global economy to leaner, low-carbon energy like wind and solar power…[until governments] agree in Copenhagen on carbon-cutting targets…

"…[Current talks are turning] against business-friendly carbon markets allowing industry to offset emissions by funding carbon cuts in the developing world…The European Union is a hub of such markets and its executive Commission has said it wants developing countries to reach certain targets before qualifying for offsets…A major stumbling block in the U.N. talks has been a demand by poorer nations for access to advanced solar power and bigger wind turbines…"