Do More With Reuters
Partner Services

Britain urges divided G20 to reach climate deal

Sat Nov 7, 2009 7:26pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Toni Vorobyova and Anna Willard

ST ANDREWS, Scotland (Reuters) - British finance minister Alistair Darling urged his G20 counterparts on Saturday to work toward a $100 billion deal to tackle climate change but developing nations insisted they did not want to talk about it.

Britain is hosting the third meeting of Group of 20 finance ministers and central bankers this year in St Andrews, Scotland, and is determined to push forward on an ambitious target to meet the costs of climate change by 2020, ahead of a major environmental summit in Copenhagen next month.

"It really is imperative that when we reach the end of the day that we have shown that we have made some real progress," Darling said at the start of talks on Saturday.

"If there isn't an agreement on finance ... then the Copenhagen agreement is going to be much, much more difficult."

But there appeared to be little chance of a breakthrough with many emerging countries questioning whether it should even be a topic of discussion at the forum of leading economies, just as they did at a London meeting in September.

"The issue is whether we talk about it or not. Britain is quite motivated on this subject but there are some quite strong objections," a French official said. "The emerging market countries say it should not be discussed for procedural reasons, that the G20 is not the right forum."

German officials predicted no meaningful breakthrough.

"At the moment the talks on financing climate protection seem to be at a dead-end," one German delegation source said, picking out China as obstructing progress.   Continued...

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

Photo

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage