Belgium is bound to accept the legal binding contract for the deal stated by Xie and he further added that conditions included a renewal of carbon-cutting pledges by rich nations under the Kyoto Protocol, along with hundreds of billions of dollars in short- and long-term climate financing for poorer countries. The issue would be in the implementation of the deal. this deal does not meant only for rich countries but for all the greenhouse countries including India, China, Brazil.
These emerging economies and other developing nations emerges half of the current emissions. He further added for the “fast-start” policy that for the year 2010-2012 $30 billion must be delivered and for the Green Climate $100 billion per year by 2020. The European Union, US, India launched the idea for trying the Protocol and included initiatives like technology transfer, adaptation etc.
Report by Himanshu Kumar