Sustainability initiatives can be expensive, with the ROI longer term. So, it's no surprise that some nations are balking at putting together Kyoto Protocol 2.0, which would be a game-changer for many nations, including developing economies. The current agreement puts the lion's share of responsibility for green improvement on the richer nations.
In BLOOMBERG LAW, Alex Morales reports that there is plenty of opposition at the UN climate conference for a second kind of Kyoto legally binding treaty. At the heart of it is, notes Morales:
"The European Union's demand for a road map ... with others saying they are going to come into the climate fight."
The current agreement ends in 2012. Japan, Russia, and Canada don't want any more commitments. Developing nations balk at binding metrics for themselves. They want a continuation of the status quo. Supporters for Kyoto 2.0 decry this, contending that it has been a time of record increase in emissions and rising temperatures.