CANCUN SPECIAL

                                                       Last Edition-3



There are a few reasons for the lowered expectations around Cancun. Firstly, climate change legislation is still pending in the world. What is also uncertain is whether the country will go in for a cap-&-trade scheme for carbon (wherein carbon-emission limits are set & around which a trading mechanism is created). Any new deal has to have the US on board.

Second, Europe has problem of its own, in particular, the economic crisis that has overtaken countries such as Greece. As a result, European governments have already begun cutting their budgets. It, however, remains to be seen how the budgets cuts influences climate change funding.

However, a Geneva-based social scientist believes climate change is not the “HOT POTATO” it used to be before the current crisis. Now, Europeans are more worried about pensions & monies for education.

In addition, deep divisions remain between the developed & developing worlds. Both sides are refusing to budget on their emission reduction plans. For instance, china & India, the new big polluters, will not agree to absolute emission targets & the US does not want to go beyond its modest plan to cut greenhouse gases.

The key to a global deal depends on how best these & other differences cure going to resolved.