| Abstract: | Although the United Nations Climate Change Conference, held recently in Copenhagen, fell short of expectations by failing to achieve a legally binding agreement to fill the gap when the Kyoto Protocol expires in 2012, there were some positive outcomes. A negotiating gridlock limited the resulting Copenhagen Accord to a nonlegally binding treaty drafted in part by the United States. The Accord was not adopted. This article discusses key elements of the Accord, identifies those countries that have committed to greenhouse gas emission reduction targets, and offers insights into the positive outcomes, shortcomings, and business implications of the Accord. |
