Thanks perhaps in part to Climategate 2, it is looking less like success and more like FAIL at Durban. The US has backed off and now refuses to agree to structure and funding of the United Nations Framework Convention on Climate Change (UNFCCC) “Green Climate Fund”. Just the name alone juxtaposed with the UN makes you want to run from it.
The US is refusing to sign off on a flagship global climate fund, as already fraught negotiations intensify ahead of next week’s UN climate summit and carbon prices plummet to new lows.
It was already feared that souring economic conditions and next year’s US presidential election would make it difficult for the UN summit – which opens on Monday in Durban, South Africa – to make headway on a new global warming deal before the main provisions of the Kyoto protocol climate treaty expire at the end of 2012.
More at the FT.com
Info on the UNFCCC “Green Climate Fund” here