Post-Copenhagen Climate Change Initiatives Drift

GreenTracker| The U.N. Framework Convention on Climate Change (UNFCCC) gave all nations until Jan. 31 to sign onto the deal — in part because it was opposed by a handful of small countries — and to publicize the domestic actions they are willing to take to reduce carbon emissions.

Key developing nations including China and India did pledge their support for the Copenhagen Accord by the deadline.

“All the major economies are off and running,” says Keya Chatterjee, acting director of the U.S. World Wildlife Fund’s climate-change program.via TIME

Reality is, says TIME and most other news sources, the pledges are unapproved by the US as must-do leader in reducing emissions and also ‘not enough’ to meet the goal of keeping global temps from rising more than 2 degrees centigrade this century.

We wrote this weekend that carbon traders should put away the champagne. The budget released on Monday by the White House did not cite any specific revenue from cap and trade activity. Last year’s budget carried projected revenue of $79 billion.