An easily ascertainable signpost for financing subsidies is an ex ante establishment over the next year or two of an institutional mechanism for the benefit of developing countries funded by the rich nations. So far rich nations have done little beyond grandstanding utterances akin to the charade for funding the Millennium Development Goals; if there is lack of tangible progress, then developing economies should eschew a formal commitment to targets below a business-as-usual scenario three years hence. The existing level of development and per capita consumption of energy, and related goods and services, implies that economy-wide cuts by developing countries are impossible. (There are some who are “looking to India to take a leadership role” — frankly, more like a sucker-of-the-first-order role — in committing to an emissions target.) Expecting citizens of Asia and Africa to agree to (potentially) compromise their economic well-being is laughable.

The writer is a fellow at the Brookings Institution, Washington DC

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