Copenhagen climate talks were indeed historic. For their failure. In Bali in 2007, negotiators laid out the roadmap for a deal and gave themselves two years. The formula was simple and ethical: rich countries would cut emissions by 40 per cent below 1990 levels, by 2020, and put new money on the table. In exchange, emerging economies would join the effort, reducing emissions growth at home enabled by finance and technology from industrialized countries
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