Copenhagen climate talks result in no binding agreement

Editor's Note: It's been a busy month here at TransAction, so we haven't been able to update the blog as often as we would like. However, regular updates should begin again in the near future.

As was expected by most, the U.N. Climate Summit last week in Copenhagen did not result in a binding agreement on emissions reductions. While accusations from both emerging and developed nations point the blame at each other for hindering the negotiations, the important thing to take out of the discussions is that while most nations involved agreed that climate change is a serious problem and that action should be taken, no emission reduction targets were agreed upon.

What came out of the negotiations is a two-page document called the Copenhagen Accord. It serves as a political (not legal) agreement between nations, and the accord gives very little details on how the nations that sign it actually plan to fight climate change.

Reaction to the accord has varied depending on who you ask. Instead of telling you what people are saying about it, you can read the reaction of several climate leaders in their own words, courtesy of Business Green. Click here to check it out.