Last-ditch attempt on to clinch climate pact

A final attempt to iron out differences between industrialized and developing nations on a climate deal ahead of next month's summit to replace a carbon emissions pact will begin today in Barcelona, Spain. But an insider predicted that negotiators at the five-day meet are on a "mission impossible".

Climate negotiators from across the world will meet in the Danish capital of Copenhagen between December 7-18 to find a successor to the Kyoto Protocol. Under the Protocol and other UN climate conventions, industrialized and developing nations should shoulder "common but differentiated responsibilities" to tackle global warming, which mainly requires developed economies to commit to mandatory carbon reduction but allows developing countries to act voluntarily. Setting binding emissions targets is one of the tasks weighing down a potential agreement.

Differences also remain over the cost of transfer of technology. Statistics show that since 2008, the developed world has transferred no more than $100 million in technological aid to poor countries so far. However, the cost of adaptation to climate change in developing countries will be in the order of $75-100 billion per year from 2010 to 2050, according to a World Bank study's preliminary findings.