Is Copenhagen Climate Treaty Dead In The Water?

Copenhagen is supposed to be an important milestone for action on climate change. Unfortunately, at the recently concluded APEC meeting, where phrases for a commitment on emission reduction were omitted, it indicates that climate change is nothing more than a sideshow for politicians.

Industrialized and developing countries are more interested in trade and making money, than on "useless" emission targets. Nobody wants to think about the impact on the global ecosystem or our future generations if economic growth is curtailed.

Maybe it was the wrong forum to talk about climate change. Will Copenhagen be the place where we come to a consensus?

To be sure, competing interests will be fought over. The developed economies will flex their muscles and argue their case aggressively. As for small island states (usually with the least resources and yet facing the worst consequences of climate change), they have little clout and will most likely have their interests glossed over or even sacrificed.

However, I am sufficiently optimistic that all is not lost. While the United States are reluctant to adopt emissions-reductions targets, it has softened to the idea of complying to the 2020 targets. There is also growing awareness among developed countries, business and investor community that tough and ambitious action is required to save Mother Earth.

Any global deal will risk non-compliance by rogue or greedy nations, but stringent penalties and proper incentives could minimise the risk. The Montreal Protocol, Basel Convention and the Convention of Biological Diversity are all successful examples of global environmental deals.

Despite all the feet-dragging, let's keep our fingers crossed that a global, long-term and binding treaty could be hammered out in Copenhagen.

At the very least, we should make progress on financial aid as funds are needed to ensure that the adaptation needs of the poorest countries can be met. It is also good to see more technology sharing and partnerships on green energy.