Kyoto extension probable
Despite disagreement amongst many key participants, it is expected that many countries will set new targets for emission cuts. While some countries hoped for a new international pact to replace Kytoto, the EU recently voiced support to extend the current contract.
The largest debate has sprung up between the US and China over how best to monitor, report and verify (MRV) emission-reduction projects. One proposed resolution is for each country to make unilateral decisions to reduce emissions. This would allow the US and China to participate in a second Kyoto commitment period while creating a legally binding system.
Although the stance of these two super-emitters is not yet concrete, the Kyoto protocol will likely continue with the support of the EU, Japan, and may developing countries.