The Copenhagen Accord struck by China, the U.S., Brazil, India and South Africa on climate change smacks of declaring victory and going home. It is not legally binding. It does no more than recognize the need to limit global temperatures rising to no more than 2℃ above pre-industrial levels. It sets collective goals for rich nations to fund poor nations’ adjustment to going greener that are so broad as to be meaningless. It puts the monitoring of developing nations’ progress in their own hands. It does nothing of substance on promoting carbon markets beyond saying “various approaches” will be pursued. Even then the accord hasn’t got the backing of the all the participants in the UN’s Copenhagen climate conference and the meeting as a whole did no more than ‘note’ it.
From Beijing’s point of view, it is job done. It has not had to accept a binding treaty, and the verification process for whatever voluntary steps its takes to control greenhouse gas emissions will be in its own hands. (It has set itself a target of cutting the amount of carbon dioxide emitted for every unit of GDP by up to 45%.) Beijing will also have taken note of how effective its alliance with India has been in dealing with the U.S. But while the accord serves both countries interests the criticism from developing nations that China and India have sought to portray themselves as championing must have stung, whatever spin the propaganda bosses put on it.
The UN now has a year to salvage something from the rubble of Copenhagen that can turn the five-way accord in to a U.N-wide binding treaty before the climate conference reconvenes in Mexico City in December 2010. Whether anyone in Beijing or Washington for that matter really cares is another matter.