Word: summits
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...streets weren't the only place hit by gridlock. Negotiations over a new global climate-change treaty to replace the expiring and flawed Kyoto Protocol - meant to culminate at the U.N. climate-change summit in Copenhagen at the end of the year - have all but ground to a halt in recent months. Despite the election of U.S. President Barack Obama, who pledged to reverse eight years of climate inaction by former President George W. Bush's Administration, developed and developing nations remain gridlocked over who should be cutting carbon emissions - and who should be paying for it. Yvo de Boer...
...made climate change one of his top priorities, it was time to raise the stakes. On Sept. 22, Ban held a high-level conference on climate change at U.N. headquarters that included Obama and Chinese President Hu Jintao. With less than 70 days remaining before the Copenhagen summit begins, the message was unusually clear: There is no more time to waste. "The world's glaciers are now melting faster than human progress to protect them - and us," Ban told the assembled leaders...
...hyped his Administration's domestic initiatives on climate change, including new rules that would limit greenhouse-gas emissions from automobiles, many environmental groups came away from his speech underwhelmed. Obama made no mention of specific targets for U.S. emissions cuts at Copenhagen, nor did he agree to attend the summit himself - as British Prime Minister Gordon Brown has done. He spent much of his speech focusing on the need for major developing nations like China to make their own moves on climate change, which sounded a little hypocritical after years of American foot-dragging. "It was great to have...
...summit, the leaders declared that bonuses should be tied to a bank's performance and that guaranteed annual payouts should be avoided. The group also demanded that the G-20 "commit to agreeing to binding rules for financial institutions on variable remunerations, backed up by the threat of sanctions at the national level." (Read "Braking the Banks...
...despite all the condemnations and harsh language, there was little actual bite behind the rhetoric at the E.U. summit. Officials failed to agree on concrete measures to limit bonuses, admitting that many of their recommendations were virtually unenforceable. Sarkozy, who has threatened to walk out of the G-20 meeting if there is no agreement on regulating bonuses, was also forced to abandon his initial call for a precise salary cap. By the end of the summit, he suggested that the best solution would be stricter rules on capital levels - a proposal that has already been made by the Financial...