The
deal
at
the
18th
session
of
the
Conference
of
the
Parties
(COP18),
extends
Kyoto
to
2020.
However,
it
only
covers
Europe
and
Australia
which
have
agreed
to
sign
on
for
a
second
and
final
phase,
accounting
for
15%
of
the
world's
emissions.
But
COP18
also
clears
the
way
for
Kyoto
to
be
replaced
by
a
new
treaty
binding
all
rich
and
poor
nations
together
by
2015
to
tackle
climate
change.
The
final
text
“encourages”
rich
nations
to
mobilise
at
least
$10bn
a
year
up
to
2020,
when
the
new
global
climate
agreement…
