By Wallace Witkowski, MarketWatch
Reuters Conference of the Parties President Maite Nkoana-Mashabane of South Africa talks with Brazil's chief climate envoy, Luiz Alberto Figueiredo before a plenary session at United Nations Climate Change Conference in Durban, South Africa. SAN FRANCISCO (MarketWatch) — Nearly 200 countries agreed Sunday to work on extending limits on greenhouse gas emissions well into the next decade, according to the United Nations Framework Convention on Climate Change.
Participants in the U.N. climate talks agree a legal deal on an effort to control global warming.
At a conference in Durban, South Africa, governments agreed to adopt a legal agreement “as soon as possible” but no later than 2015 to curb greenhouse gas emissions to limit the rise in average global temperatures by 3.6 degrees Fahrenheit.
The agreement would extend the Kyoto Protocol that was adopted in 1997 and is set to expire in 2012. The U.S. never ratified the protocol.
While Russia, Canada and Japan had said earlier they would not recommit to the Kyoto Protocol, they all signed onto the new agreement, according to The Wall Street Journal. The U.S., China and India — the largest producers of greenhouse gases — have also signed on to the agreement, according to the Journal.
The agreement would create a Green Climate Fund of about $100 billion by 2020.
Wallace Witkowski is a MarketWatch news editor in San Francisco.
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