According to the protocol, developed countries are subject to binding targets on greenhouse gas emissions, while developing economies make their cuts on a voluntary basis.

The BASIC countries' representatives in Beijing agreed that the Durban talks should achieve a comprehensive, fair and balanced outcome, for which the Second Commitment Period of the Kyoto Protocol is an "essential priority".

The representatives said that financing will be another pressing priority in Durban, and agreed that the conference should initiate the operation of the Green Climate Fund to ensure adequate financial support for the developing countries to adapt to climate change. In Cancun, the developed countries agreed to provide $30 billion as "fast-start" funding for the project and then increase it to $100 billion a year between 2013 and 2020 to avoid a funding gap.

But the funds have not been forthcoming as "fast" as they should have - and that is not only because the developed world has been trying to tame the Frankenstein's monster called the financial and debt crises.

Perhaps this is the best time for the emerging economies to get the developed world to do some good for a change. At the climate conference in Durban, they should ask Europe and the US to fulfill their promises (like providing funds for the Green Climate Fund) and agree to new ones (like the Second Commitment Period of the Kyoto Protocol) in exchange for helping them out of the economic mess.

The author is a senior editor with China Daily.

Email: oprana@hotmail.com

(China Daily 11/12/2011 page5)