China's chief negotiator for climate change talks expressed optimism about the UN climate talks in Cancun, stating that positive results are possible if all parties show genuine political will. Despite tensions between rich and developing nations over the future of the Kyoto Protocol, China believes that the talks can lead to meaningful outcomes in line with the Bali road map. The negotiator emphasized the importance of compromising on minor issues while maintaining firm principles, such as the debate on the continuity of the Kyoto Protocol. China accused some developed countries on Friday of attempting to sabotage the Kyoto Protocol, which is the main tool used by the United Nations to combat climate change and reduce global warming. This has caused a dispute with Japan, Russia, and Canada. China, the largest producer of carbon emissions, has consistently stated that it will not yield to pressure to reconsider its stance on the Protocol. The first phase of the Kyoto Protocol, which requires around 40 wealthy nations to meet emission reduction targets, ends in 2012, leaving uncertainty about what will happen next. This uncertainty is concerning for investors who seek long-term clarity on climate policies and funding. Most affluent nations have committed to meeting legally binding emission targets under the Kyoto Protocol, with the notable exception of the United States, which did not join. Developing countries, including China, are encouraged to take voluntary measures to limit the growth of their emissions. The United States and other wealthy countries are seeking a new international agreement to address the increasing emissions from developing nations, which now make up over half of the world's annual greenhouse gas emissions. However, countries like China and India are hesitant to commit to specific targets until they see more significant reductions from industrialized nations.