Durban: India fought hard on Wednesday to ensure that the UN talks do not set a global target to cut emissions by a fixed figure under a pre-ordained timeframe. The issue referred to in the negotiations’ jargon as ‘peaking’ has reared its head at various occasions over the past few years.

December 2: Talks at the climate change conference have predictably bogged down over funding and over the insistence of the first world countries that emerging economies like India and China also commit to legally binding and higher reduction of carbon emission.

Australia's controversial plan to introduce a tax on carbon emissions cleared a major political hurdle Wednesday, securing the expected approval of the country's lower legislative house.

The package to introduce a price on carbon pollution and encourage investment in clean and renewable energy narrowly passed at 74-72. The law is now assured easy passage through the Australian parliament.

Urging the developed countries to fulfil the obligation of providing the developing nations with $30 billion, the BASIC group of countries, formed by Brazil, South Africa, India and China, today said this fast-start financing should be made available as soon as possible in a transparent manner.

The fund was promised for 2012 at last year

The United Nations climate change talks in Tianjin, China, witnessed some progress on the issue of financing of climate change mitigation and adaptation but there is a significant gap between the level of funding required and what has been committed so far.