Climate talks in Copenhagen yield null result

European Union Leaders have failed to reach consensus on a financial plan that would help developing nations deal with climate change.

Discord grew in the two-day EU summit in Brussels over how much financial assistance underdeveloped countries would need to deal with global warming and who should foot the bill.

The summit, chaired by Swedish Prime Minister Fredrik Reinfeldt, whose country currently presides over the 27-bloc of nations, drew unsuccessfully to a close, without a clear path to follow.

“We are still working on putting together what the European countries on a voluntary basis are able to do,” he said following revelation of various eastern European nations’ reluctance to commit more funds to help curb CO2 and CH4 emissions.

“We will work through the night to see that we get all the resources in place,” the Associated Press quoted Reinfeldt as saying on Thursday.

The failure of EU leaders to agree on even a provisional financial plan comes amid calls for a united front on global warming.

Scientists maintain that the Copenhagen climate summit is ‘the last chance’ to save the planet’s ecosystem. Some developed countries need to cut their current carbon dioxide emissions by up to 40 percent over the next decade in order ease global warming issues such as air contamination, food problems, droughts and the scarcity of clean water.