US stresses 'agreement' with EU on climate change[de] 

Harlan Watson, who is leading the US delegation in the August 27-31 talks, said that the United States "will...come through with what we believe will be our contribution" to worldwide emission cuts. He added, however: "I don't see 'one size fits all' on this." Watson added that both the US and the EU have "recognised the importance of a global effort: "I think we're coming closer and closer to understanding each other."

He failed, however, to quantify a possible US contribution to worldwide emission cuts. The US is still the world's biggest polluter, but it may soon be overtaken by China, according to a report by the International Energy Agency. News agency Bloomberg quotes Colette Lewiner, global leader of energy, utilities and chemicals for management consultants Cap Gemini, saying: "To be more credible, the US needs to set quantitative objectives. If not, it's just nice words."

Hans Verolme, climate-change director for environmental group WWF International, said: "Europe clearly has made a commitment. I would love to see that from the United States."

The lack of emission caps for developing nations and evolving economies, including China, was the major reason, besides costs for its own economy, for the Bush administration to withdraw from the Kyoto Protocol in 2001. In Vienna, Watson stressed that preserving climate "is going to require tremendous cuts, well beyond 50%...not just in developed countries, but also in developing countries".

In the conference, the United Nations presented a new report , which estimates that "the additional estimated amount of investment and financial flows needed in 2030 to address climate change is large compared with the funding currently available under the (UN Framework Convention on Climate Change) and its Kyoto Protocol, but small in relation to estimated global gross domestic product (GDP) (0.3-0.5%) and global investment (1.1-1.7%) in 2030". 

According to the report, the additional funds required could be generated mainly by emission-trading markets such as the EU's ETS. 

On 24 September, the UN will host another conference on climate change. For 27-28 September, the US have signalled a conference involving the world's most polluting nations in Washington. A major global climate summit will take place in December in Bali, Indonesia.