After this weeks discussions in Germany, negotiations has stalled leading up to Lima. Developed countries were not able to agree to a deal on financing the developing nations in exchange for their commitment to reduce emissions. This will continue to play out all the way through Lime. How are developed nations going to meet their $100 Billion pledge by 2020? With financing pieces from the US falling through, it looks challenging, but to get developing nations on board to reduce GHG emissions, it must be done. Read more here about the developments.
The EU is already well towards their goal of 20% reductions by 2020. This represents a good step forward for the EU. It will be interesting to see how this plays out going into Lima and then Paris. We can imagine that the EU will be pushing the rest of the world to follow suit. The EU is doing their part, what about the US and China?
Read more about the EU deal here