Emissions - 'rich states failling to lead'

Developing countries, including China and India, are unwilling to sign up to a new global climate change pact to replace the Kyoto protocol in 2012 because the rich world has failed to set a clear example on cutting carbon emissions, according to the UN's top climate official. Analysts say a new global deal needs to be agreed at the Copenhagen meeting for it to come into force by 2012, because it will take several years to be ratified by countries. If a new deal is not in place when Kyoto expires, then confidence in emerging carbon trading markets - seen as a key way to reduce greenhouse gas pollution - could collapse. Schemes such as the European emissions trading scheme, set up under Kyoto, force polluting companies to invest in carbon credits or cleaner technology, but rely on carbon caps continuing past 2012.

http://www.guardian.co.uk/environment/2008/apr/14/climatechange.carbonemissions