Time's running out and yet no sign of deal

Copenhagen, 16 December (Panos Radio South Asia) -- With only two days left for the UN climate conference to finish, the world leaders have yet to reach a consensus on what kind of deal they will seal.

Most contentious issues remain in limbo as the developed and most powerful developing nations have failed to agree especially on the issue of Kyoto Protocol.

The United States continue to stress on the need for a structure that is very different from Kyoto Protocol, based on a bottom up structure and actions implemented domestically. 

G77 and China continue to strongly advocate for protecting Kyoto Protocol at any cost. 

The Ad Hoc Working Group on Long Term Cooperative Action under the Convention (AWG-LCA) that began this morning at 4.45 AM and most leaders barely got any sleep and most of it was because of US dissatisfaction over  the text related to the section, "Nationally appropriate mitigation commitments or actions by developed parties."

The US, which is the world's second largest carbon emitter, has made a clear stand that it will stick to its target to 17 percent cut from 2005 levels by 2020, which is equal to four percent cut from its 1990 level. This is too less, say the G77, China and even the European countries. 

The European Union has pledged a 20 percent cut from 1990 levels by 2020 and will move that to 30 percent if other countries also deepen their cuts. 

All countries including UK, the closest ally of US, has been asking the country to pledge larger emission cuts.  The US on the other hand remains adamant that it will not so now because the debate remains contentious in its congress.

Besides the emission target, the US has also not committed to long term financing for the developing world, which need at least 200 billion dollars annually to help the most vulnerable nations affected by climate change.

China and the US, two of the world's worst carbon emitters, are literally having a standoff and both are equally to be blamed for their stubbornness in the conference, said experts.

Since the Kyoto Treaty was signed in 1997, China's economy and emissions have rapidly grown and in fact has overtaken the US for emitting greenhouse gas. 

The contention is that although China does not have a historical responsibility as the EU and the us contributing climate change, it does have a future stake to take action.

"It is still possible to reach a success," said UN's climate top official Yvo de Boer.

He explained that there are a number of unresolved issues for the leaders to resolve. 

"The next 24 hours are most crucial," said Boer.