US threatens to walk out of Paris pact over financial obligations

http://www.business-standard.com/article/current-affairs/us-threatens-to-walk-out-of-paris-pact-over-financial-obligations-115121100913_1.html
Nitin Sethi , Business Standard, 12/12/15

The night saw an ugly brawl as Secretary Of State John Kerry threatened that developed countries would walk out of the agreement if they were asked to commit to differentiation or financial obligations. “You can take the US out of this. Take the developed world out of this. Remember, the Earth has a problem. What will you do with the problem on your own?” he told ministers from other countries during a closed-door negotiation on the second revised draft of the Paris agreement.

“We can’t afford in the hours we are left with to nit-pick every single word and to believe there is an effort here that separates developed countries from developing countries. That’s not where we are in 2015. Don’t think this agreement reflects that kind of differentiation,” he added. Making a veiled threat that the agreement could fail if the US was pushed for financial obligations, Kerry said, “At this late hour, hope we don’t load this with differentiation… I would love to have a legally binding agreement. But the situation in the US is such that legally binding with respect to finance is a killer for the agreement.”

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