US threatens to walk out of Paris pact over financial obligations
Talks go beyond deadline as developed countries block differentiation in revised draft
Nitin Sethi | Paris
The chase for Paris climate agreement is going into overtime. French foreign minister Laruent Fabius, who is leading the negotiations, pushed back the deadline to Saturday after another round of all-night talks failed to yield any result till the original deadline of Friday 6pm. While making the formal announcement, Fabius expressed hope that the final package would announced on Saturday morning after negotiations on Friday.
On the night between Thursday and Friday, the rich and poor countries were divided by fractious arguments, leaving the organisers with no other option but to extend the deadline. Many negotiators across the divide speculated that the talks may get further extended till Sunday.
The night saw an ugly brawl as US Secretary Of State John Kerry threatened that developed countries would walk out of the agreement if they were asked to commit to differentiation or financial obligations. “You can take the US out of this. Take the developed world out of this. Remember, the Earth has a problem. What will you do with the problem on your own?” he told ministers from other countries during a closed-door negotiation on the second revised draft of the Paris agreement.
“We can’t afford in the hours we are left with to nit-pick every single word and to believe there is an effort here that separates developed countries from developing countries. That’s not where we are in 2015. Don’t think this agreement reflects that kind of differentiation,” he added. Making a veiled threat that the agreement could fail if the US was pushed for financial obligations, Kerry said, “At this late hour, hope we don’t load this with differentiation… I would love to have a legally binding agreement. But the situation in the US is such that legally binding with respect to finance is a killer for the agreement.”
http://www.business-standard.com/article/current-affairs/us-threatens-to-walk-out-of-paris-pact-over-financial-obligations-115121100913_1.html
The chase for Paris climate agreement is going into overtime. French foreign minister Laruent Fabius, who is leading the negotiations, pushed back the deadline to Saturday after another round of all-night talks failed to yield any result till the original deadline of Friday 6pm. While making the formal announcement, Fabius expressed hope that the final package would announced on Saturday morning after negotiations on Friday.
On the night between Thursday and Friday, the rich and poor countries were divided by fractious arguments, leaving the organisers with no other option but to extend the deadline. Many negotiators across the divide speculated that the talks may get further extended till Sunday.
The night saw an ugly brawl as US Secretary Of State John Kerry threatened that developed countries would walk out of the agreement if they were asked to commit to differentiation or financial obligations. “You can take the US out of this. Take the developed world out of this. Remember, the Earth has a problem. What will you do with the problem on your own?” he told ministers from other countries during a closed-door negotiation on the second revised draft of the Paris agreement.
“We can’t afford in the hours we are left with to nit-pick every single word and to believe there is an effort here that separates developed countries from developing countries. That’s not where we are in 2015. Don’t think this agreement reflects that kind of differentiation,” he added. Making a veiled threat that the agreement could fail if the US was pushed for financial obligations, Kerry said, “At this late hour, hope we don’t load this with differentiation… I would love to have a legally binding agreement. But the situation in the US is such that legally binding with respect to finance is a killer for the agreement.”
http://www.business-standard.com/article/current-affairs/us-threatens-to-walk-out-of-paris-pact-over-financial-obligations-115121100913_1.html
posted by Satish Sharma at
01:58
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