US Threatens To Walk Out Of Paris Talks If Financial Obligations Made Legally Binding

1trillionThe night saw an ugly brawl as US secretary of state John Kerry threatened that developed countries, including the US, would walk out of the agreement if it help up the wall of differentiation or if it was asked to commit to a road-map or a goal to deliver on its financial obligations in the Paris agreement. “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 said behind closed doors in negotiations to other ministers on the second revised draft of the Paris agreement. –Nitin Sethi, Business Standard, 11 December 2015

Britain and other rich countries face demands for $3.5 trillion (¬£2.3 trillion) in payments to developing nations to secure a deal in Paris to curb global warming. Developing countries have added a clause to the latest draft of the text under which they would be paid the “full costs” of meeting plans to cut emissions. The amount paid by rich countries is a key unresolved issue at the climate conference in Paris, which is supposed to end tomorrow. The latest version of the text has more than 360 points of disagreement. –Ben Webster, The Times, 11 December 2015