Updated: Major Economies Forum quashes Mexico climate deal expectations

The meeting of the Major Economies Forum (MEF) that ended on Monday delivered progress on a number of key areas. It was followed by speculation that emerging economies could be willing to broker a compromise over the status of the Kyoto Protocol in order to help finalise an international climate change treaty over the next two years.

Diplomats at the Washington meeting agreed that they would attempt to downplay expectations ahead of the next major climate change summit in Mexico later this year.

Speaking to reporters following the close of the two-day meeting in Washington, chief US climate negotiator Todd Stern said there was agreement among the countries in the major economies group that they did not want to see a repeat of last year's Copenhagen summit, when expectations far exceeded the agreement that was eventually delivered.

"[There is] a good appreciation and a sound appreciation that we don't want to let expectations far outstrip what can be done in [Cancun]," he said, adding that while the countries still wanted a legal agreement, they were increasingly aware that it may not be possible to finalise a treaty that secures universal support.

Stern is the latest in a series of senior figures involved in the UN-backed climate change negotiations to downplay the chances of a deal being reached this year.

Diplomats at the UN, including the outgoing head of the UN's climate change secretariat Yvo de Boer, have also said it is highly unlikely that a treaty will be signed this year. Attention is already turning to the 2011 summit scheduled for South Africa where negotiators will have one last chance to reach an agreement before the Kyoto Protocol expires in 2012.

However, Stern said the group of 17 countries had made progress on many of the major sticking points in the long-running negotiations, including issues relating to mitigation, transparency, financing, technology, forests and adaptation.

The US also attempted to alleviate concerns among developing countries that industrialised nations were failing to make good on commitments made at the Copenhagen summit to provide $30bn (£19.5bn) in "fast track" financing to support climate adaptation projects, by providing fresh details of how it plans to increase climate-related funding for developing countries.

Diplomats at the meeting were reportedly provided with a document showing that the Obama administration had requested that US climate funding be increased from $1.3bn this year to $1.6bn in 2011, and had set aside funds to back up its pledge to provide $1bn to rainforest protection programmes.

Optimism that a deal could still be reached was further stoked today when Reuters reported that a meeting of Brazil, South Africa, India and China – the so-called BASIC bloc – scheduled to take place in South Africa next week could see a shift in the negotiating position of the influential group of emerging economies.