President Barack Obama stated the obvious this week, that there’d be no binding climate deal in Copenhagen next month, but that doesn’t mean the meeting will be a bust, says Victor Flatt over at Flatt Out Environmental.
“First of all, it seems that countries appear ready to agree on the principle of funds transfers to the developing world to pay for climate change damage. Moreover, there are some interesting ideas on how to implement such a policy.”
Blaming the U.S. for all climate change problems is “counter-productive and inaccurate” Flatt notes, but he says the issue illustrate how important the United States is to reaching an international agreement.
Flatt will also personally be taking part in talks in Copenhagen related to carbon market design, so keep watching his blog for updates.
Work also continues on the careful design of a US and International trading system, and many proposals will be put forward at Copenhagen on carbon market design (one of which I will be participating in).