No legally binding pact likely in Cancun climate meet

After a meeting of four emerging economies—Brazil, South Africa, India and China (BASIC)—in Tianjin on Monday, the BASIC countries said the outcome in Cancun should pave the way for a legally binding outcome in South Africa next year.

A global legally binding emission cut agreement is urgently needed to replace the Kyoto protocol.

However, since emission reduction impacts the economy, framing a global agreement is not an easy job as the road ahead is strewn with policy landmines.