The carbon trading market may be headed for a crash if negotiations at the climate change conference are any indication, according to experts.
The world`s three biggest polluters China, the United States and India refused to move toward a new legal commitment to curb their carbon emissions Tuesday.
The BASIC Tuesday presented a unified stand, saying a second commitment period for the Kyoto Protocol beyond its expiry date next year is a "must".
UNEP has said Voluntary measures by countries and legally binding emission cuts are to condition each other and should not be put into competition against each other.
India is open to discussion on a new legally binding climate change treaty but the principle of equity -- the right of developing nations -- should be central to it.
International climate negotiators were at odds Tuesday on how to raise billions of dollars to help poor countries cope with global warming.
The stage is set for the annual UN summit on climate change starting Monday at Durban in South Africa.
Day in Pics: 21st April
Showbiz World - April 21, 2015
Kareena, Karisma and Saif celebrate Babita's birthday!