Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Rich vs poor at Copenhagen

Dec 10 2009 14:40

Related Articles

Greenpeace targets SA

Climate change to hit insurers

EU to break climate deadlock

Africans protest UN talks

Obama praised for emissions goal

Boost for SA carbon capture

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

MyCiti buses running at a loss

May 28 2012 07:53

The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.

 
Share Share line Print

Copenhagen - Developing nations who face huge climate change burdens are demanding that wealthy nations shoulder more of the costs, as a leaked Danish document and fresh evidence of a hotter planet raised temperatures at the UN climate conference.

Negotiators on Wednesday were trying to bridge the difficult gaps among 192 nations and stem a growing chasm between rich and poor on the third day of the UN climate conference.

A key speaker will be US Environmental Protection Agency head Lisa Jackson, whose agency just gave President Barack Obama a new way to cut back on greenhouse gas emissions. Obama will join more than 100 national leaders converging on Copenhagen for the final days of bargaining late next week.

Jackson headlines a US-sponsored meeting entitled "Taking Action at Home." The EPA determined Monday that scientific evidence clearly shows greenhouse gases are endangering Americans' health and must be regulated, either by Congress or by itself, the agency responsible for air pollution. That gave Obama a new way to regulate those gases without needing the approval of the US Congress.

Meanwhile, small island nations, poor countries and those seeking money from the developed world to preserve their tropical forests were among those upset over competing draft texts attributed to Denmark and China outlining proposed outcomes for the historic Dec. 7-18 summit.

Some of the poorest nations feared too much of the burden to curb greenhouse gases is being hoisted onto their shoulders. They are seeking billions of dollars in aid from the wealthy countries to deal with climate change, which melts glaciers that raise sea levels worldwide, turns some regions drier and threatens food production.

Diplomats from developing countries and climate activists complained the Danish hosts pre-empted the negotiations with their draft proposal.

Lumumba Di-Aping of Sudan, the head of the 135-nation bloc of developing countries, said the $10bn fast-track pledge from the US, European Union, Japan and other wealthy nations paled compared to the more than $1 trillion spent to rescue financial institutions.

"If this is the greatest risk that humanity faces, then how do you explain $10bn - unless it is an inducement for some countries to accept the western-backed proposal?" he said. "Ten billion will not buy developing countries' citizens enough coffins."

The Danish draft proposal would allow rich countries to cut fewer emissions while poorer nations would face tougher limits on greenhouse gases and more conditions on money available to adapt.

Pleasing the rich

"(It focuses) on pleasing the rich and powerful countries rather than serving the majority of states who are demanding a fair and ambitious solution," said Kim Carstensen of the environmental group WWF.

A sketchy counterproposal attributed to China would extend the 1997 Kyoto Protocol, which required 37 industrial nations to reduce emissions of carbon dioxide and other gases blamed for global warming by an average 5% by 2012, compared with 1990 levels.

The Chinese text would incorporate specific new, deeper targets for the industrialised world for a further five to eight years. Developing countries, on the other hand, including China, would be covered by a separate agreement that envisions their taking actions to control emissions, but not in the same legally binding way. No targets would be specified for them.

Poorer nations believe the two-track approach would best preserve the principle of "common but differentiated responsibilities" recognided by the Kyoto treaty.

Such draft ideas are the usual grist early in such long, difficult international talks. These two proposals were not yet even recorded as official conference documents.

"It has no validity," key European Union negotiator Artur Runge-Metzger said, speaking of the Danish proposal. "It's only a piece of paper. The only texts that have validity here are those which people negotiated."

Earlier Tuesday, the UN's weather agency unveiled data showing that this decade is on track to become the hottest since records began in 1850, with 2009 the fifth-warmest year ever. The second warmest decade was the 1990s.

Only the United States and Canada experienced cooler conditions than average, the World Meteorological Organisation said, though Alaska had the second-warmest July on record. In central Africa and southern Asia, this will probably be the warmest year, it said.

- AP

 
 
Comment on this story
0 comments
Comments have been closed for this article.
It pays to know the cost and what you’re getting in return
May 28 2012 09:33

Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

Sasha

"In the short term this is true, Greece will dominate the headlines on a day to day basis, until their next elections when there would be some clarity to answer the question, "What next for Greece?" Amazingly everyone except the politicians seem to be lining themselves up for worst case scenario, b... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...