11 Dec 2009 13:33

Compromise still possible at Copenhagen - industry insider

Shanghai. December 11. INTERFAX-CHINA - Developed and developing countries may still reach a compromise in Copenhagen on a successor agreement to the Kyoto Protocol, even as the debate rages on over emission reductions, industry insiders told Interfax.

Dou Xiaodong, the project manager of the British carbon trader Carbon Market, told Interfax on Dec. 11 that the Kyoto Protocol may be extended beyond 2012, the year it is set to expire, but both sides need to tone down their rhetoric.

Duo believes that although developed countries do not want to lose face at Copenhagen, some of their representatives are sympathetic to the predicament of developing countries. So, compromise is still possible.

Su Wei, deputy director of Chinese delegation said on Dec. 8 that the conference largely hinges on whether the United States can work out a solution to the problems of technology transfer and financial support.

Todd Stern, America's special envoy for climate change, said on Dec. 9 in Copenhagen that the Untied States has no public money for China because China is wealthy enough to fund its own efforts. Instead, the United States intends to direct funds to the neediest developing countries.

Dou believes this may not be a deal breaker for China, which cares more about technology transfer than funding. He also noted that China has so far only received about $1 billion through the Clean Development Mechanism (CDM).