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Obama Plans for Climate Deal as Fiscal Cliff Talks Rage

Dec 3, 2012
(Bloomberg)

As leaders in Washington obsess about the fiscal cliff, President Barack Obama is putting in place the building blocks for a climate treaty requiring the first fossil- fuel emissions cuts from both the U.S. and China.

State Department envoy Todd Stern is in Doha this week working to clear the path for an international agreement by 2015. While Obama failed to deliver on his promise to start a cap-and-trade program in his first term, he’s working on policies that may help cut greenhouse gases 17 percent in 2020 in the U.S., historically the world’s biggest polluter.