Differences between rich and developing countries prevented G20 finance ministers from agreeing measures today to curb global warming, casting more doubt on U.N. efforts to agree a new climate treaty, Reuters reported. Industrialised nations sought progress on climate change financing at a meeting of G20 finance ministers but met resistance from emerging nations including China and India, who fear the proposals could stifle their economic growth, two G20 sources said. Ministers said in their concluding statement that they would work towards a successful outcome at a United Nations meeting in Copenhagen in December which aims to draft a new climate change treaty to succeed the Kyoto agreement. British finance minister Alistair Darling said there had been "very substantial" discussion on the topic but no specific measures were agreed. "I am also a little disappointed by the lack of positive commitment today," European Union Economic and Monetary Affairs Commissioner Joaquin Almunia said. Swedish Finance Minister Anders Borg, representing the European Union, agreed the outcome was "not satisfactory". "We would have been very happy to move further than we were able to at this meeting," he added.
