http://af.reuters.com/article/energyOilNews/idAFTOE6A905H20101110

Mexico's foreign minister said on Wednesday the U.N. climate talks she will co-host this month should zero in on immediate goals such as the creation of a Green Fund, as hopes fade for a sweeping result.

Failure to achieve even a "bare minimum" set of decisions would undermine the credibility of the already troubled negotiations on a broader climate pact, Patricia Espinosa said in an interview on the sidelines of an Asia-Pacific Economic Cooperation (APEC) ministerial meeting.
Prospects for the Nov 29-Dec 10 climate change talks in the Mexican resort of Cancun have dimmed in recent months because of near-deadlock in the 194-nation negotiations over how to share the burden in cutting greenhouse gas emissions.
Instead, the United Nations and Mexico are hoping the talks will deliver agreement on a package of less contentious issues after realising too much time has been spent in past meetings focused on bitterly divisive emissions reduction targets.
A setback for Democrats in the U.S. mid-term elections has further clouded the outlook, with President Barack Obama conceding that passing legislation to require mandatory cuts in greenhouse gas emissions would be more difficult.
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"We believe a significant outcome in Cancun should focus on providing the means for immediate global action," Espinosa said.
"There is broad convergence on the creation of a framework that supports actions on adaptation, on the facilitation of the transfer of technology, on support for the conservation of forests, and on the creation of a Green Fund," she told Reuters.
Reaching agreement on these issues to expand the fight against climate change was essential, she said.
"It is such an important negotiation for the credibility to our system, for the credibility of the convention of the United Nations itself," she said, referring to the main U.N. Framework Convention on Climate Change of which the Kyoto Protocol is a part.
BARE MINIMUM
A "Green Fund" is meant to help poor nations shift from fossil fuels and cope with projected floods, droughts, mudslides and rising seas caused by climate change. But how the fund will be managed is unclear.
"I think the minimum (we want from Cancun) is the package of decisions," Espinosa said. "If we are not able to put in place the package -- the complete package -- then we will be facing again a very critical situation."
Last year's U.N. climate talks in Copenhagen failed in its goal of working out a legally binding treaty at the end of a two-year deadline set in Bali, Indonesia, in 2007. Instead, the meeting resulted in a political agreement with many gaps.
While stopping short of commenting directly on the impact of big Republican gains in U.S. congressional polls, Espinosa said she was confident Obama had the political will and commitment to increase financial support for poorer, developing nations.
"Every country wants a legally-binding deal. But currently there is not yet agreement on what exactly should be included in that new legal instrument. We must now adopt decisions that have great value in themselves and also build towards an enhanced legal regime."
Espinosa indicated she was not keen on setting a deadline for negotiating a new treaty to replace or expand the Kyoto Protocol from 2013, repeating her stance that progress should be made on the basis of a "broad and balanced" package of decisions.
The problem, though, was the lack of a clear path on what a new legal agreement should look like, she said.
"There are an enormous variety of decisions but no real trend to identify as to where we can go," she said.
Some nations want the Kyoto Protocol extended into a second period, others such as Japan and the United States, which never ratified Kyoto, want a new treaty. Many developing nations back an extension to Kyoto because it enshrines wording that allows poorer nations to take voluntary steps to curb emissions.
Wealthy countries insist on substantial cuts in emissions from major developing countries such as China and India, the world's top and No.3 carbon polluters. Poorer nations demand the rich do much more to rein in carbon emissions. (Additional reporting by Chisa Fujioka; Editing by David Fogarty)