China, India and the US agree to climate pact

The US, India and China agreed on a plan to reduce greenhouse gas emissions, marking a breakthrough in global climate change negotiations, The Wall Street Journal reported. Delegates from the nations agreed over the weekend to draft a new global emissions treaty by 2015; in exchange, most rich countries which currently abide by the 1997 Kyoto Protocol requirements will extend their commitments past the current expiration date of 2012, and developing countries like China and India would in principle accept binding commitments. The new treaty, if agreed upon and then ratified by participating members, will take effect in 2020. China and India agreed to the pact only on condition that a “legal instrument” established to monitor enforcement be replaced with the broader term “legal force.” Members also agreed to set up a climate fund, which they hope will be capitalized with US$100 billion to help poor countries meet the challenges of climate change.