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160 Nations Agree to a New Global Warming Treaty
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The negotiators appeared to have made significant headway on Wednesday when all sides agreed on an enforcement mechanism that would penalize countries that failed to meet their goals by raising their emission reduction targets by 1.3 percent.
However, there was a major dispute over eligibility requirements for countries participating in credit trading. Officials last night did not immediately explain how they had resolved these differences.
The treaty framework was first negotiated in Kyoto, Japan, in 1997 but was subject to further detailed negotiations on how it would be enforced before it could be formally submitted to the legislatures of the participating countries for formal ratification.
During a session last summer in Bonn, the European Union, Japan, Russia and other principal participants agreed on almost every element of the accord but left some issues unresolved until the Marrakesh talks.
