Vikram Chandra

Vikram Chandra wrote a post :

Vikram Chandra

Live from Copenhagen

As we've been reporting since yesterday, still no sign of countries heading for a legally binding treaty in Copenhagen.

But we are now starting to play the cards that could lead to a "deal", which then gets tied into a binding treaty next year. In business terms, this will be a term sheet, with definitive documents still to be signed.

Copenhagen did see some positive steps today; no fresh Danish draft, resumed twin track talks, and the US financial pledge.

But we still need to see how the financial package works and what those developed country reductions look like.

For the US, the big "red line" is how to monitor BASIC, and specially Chinese commitments.

There's agreement on 3 out 4 issues here, but the trickiest one on verification of unsupported actions is still outstanding.

Efforts to bury Kyoto have clearly waned and if they resume, then so will full scale hostilities.

This is now the end game; let's see what heads of state will do. 9 years ago

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