Financial Soultions: China is pushing hard for climate agreement.

Oct. 29, 2009 - PRLog -- In what Financial Soultions sees as an intense attempt by China's climate change lobby to ensure the forging of a new pact to fight global warming there has been frenzied recent action, that could either aid in finding global resolve or possibly end in bitterness that could recoil onto the world's biggest emitter.

President Hu Jintao told President Barack Obama in recent talks that China wants a positive outcome in Copenhagen when the worlds nations gather in December to attempt to hammer out a new climate pact, and  certainly this will also be a predominant theme in Obama’s Beijing visit in mid-November.

The last few weeks have seen China meeting with other climate conference big guns, including India. The upcoming China-EU summit in late November is also likely to see climate change as a key topic.

But the Chinese delegation laying the groundwork for the negotiations have echoed growing international concerns, saying that the Copenhagen talks could end in frail accord or even fail to reach a deal entirely, Financial Soultions has learned.

"The real negotiations will be after Copenhagen," a Chinese Foreign Ministry official announced at a recent meeting in Beijing. "Copenhagen will be a starting point, not an ending point."

As a coal-dependent giant with output of greenhouse gases bound to rise for many years yet, a failure to generate a solid dead could see China accepting most of the brunt of any backlash. This may create greater tensions over trade, between China and among others the U.S., an already strained area, Financial Soultions understands.

"With China such a big emitter, it wants to avoid becoming the scapegoat if negotiations are unsuccessful or even fall apart," said an environmental policy lecturer at a Beijing University.

"We feel it's already game-over. Copenhagen will be a rough compromise. China wants to take the initiative so it avoids being blamed if that's called a failure," he added.

China's emissions of carbon dioxide saw a rise of 178% over 1990 levels through 2008. The giant nation is poised to become one of the globes primary carbon credit purchasers, substantially increasing the value of carbon credits due to the demand for volume.

# # #

Financial Soultions is a Boutique Investment Advisory Firm with very selective Corporate, Private and Institutional Clientèle who enjoy above average returns and service.