China believes there is no chance of reaching a substantive agreement at the UN climate change conference and has suggested to fellow participants that they instead issue “a short political declaration of some sort,” Reuters reported, citing an official involved in the talks. Chinese representatives dismissed the suggestion as a malicious rumor. With dozens of heads of state arriving in Copenhagen to address the conference, the “operational accord” envisaged by US President Barack Obama remains elusive. Developed and developing nations are deadlocked over who should cut emissions, and by how much, as well as the amount of financial support poorer countries should receive to help them adapt to greener growth. The US has offered a US$100 billion in assistance by 2020 on the condition that emissions curbs in China and other developing nations are internationally monitored. Separately, Beijing plans to spend more than US$440 billion on environmental protection over the course of the 12th Five-Year Plan, which comes into effect in 2011.
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