Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Brazil Signals It Can’t Yet Commit to Binding Emissions Target

Dec. 6 (Bloomberg) -- Brazil signaled it’s not prepared to sign up to a road map leading to a legally-binding carbon emissions target at United Nations talks in South Africa, a key demand the European Union is making at the meeting.

Latin America’s second biggest greenhouse gas emitter after Mexico is open to devising a timeline for a future climate change deal without prejudging what legal form the pact might take, said Brazilian envoy Luiz Alberto Figueiredo.

“We have no problem in looking at a timeline that will take us from here to there engaging in that kind of exercise,” Figueiredo said today in an interview in Durban, South Africa. “The structure of that post-2020 framework will be solved in the negotiations.”

The debate over the EU’s proposal is one of the main sticking points at the talks in Durban that conclude on Dec. 9. Developing nations led by Brazil and China want the current treaty limiting emissions, the Kyoto Protocol, to be extended beyond 2012. The EU says it won’t renew Kyoto unless all nations say when they’d take on mandatory carbon targets.

Asked if Brazil could accept a future agreement that set binding emissions targets for all nations, Figueiredo said, “It’s fine, if that’s the result of the negotiation, fine. I cannot simply say now that we will agree with that if we don’t know now what will be the conditions.”

China's Plan

Chinese delegation chief Xie Zhenhua yesterday told reporters his country could accept a binding deal after 2020 provided five conditions were met, including a second-commitment period of Kyoto. EU Climate Commissioner Connie Hedegaard said more clarifications are needed from China

Hedegaard in a post on Twitter after her meeting with China wrote, “sometimes messages are more progressive at public press conferences than in negotiation rooms.”

Brazil’s envoy also said that failure to secure a second commitment period of the Kyoto Protocol in Durban would endanger the UN’s Clean Development Mechanism, a carbon offset market that helps companies to meet their emissions targets through investing in carbon-cutting projects in the developing world.

Without emissions targets, “the CDM unfortunately loses its purpose and we’re very concerned about,” Figueiredo said.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.