China's chief negotiator for climate change talks expressed optimism about the UN climate talks in Cancun, stating that positive results are possible as long as all parties show sincere political will. Despite clashes between rich and developing nations over the future of the Kyoto Protocol, China believes that the talks will ultimately achieve positive and meaningful outcomes in line with the Bali road map. The negotiator emphasized the importance of compromise on minor issues while standing firm on key principles, such as the continuation of the Kyoto Protocol. China accused certain developed countries 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 accusation comes after a dispute with Japan, Russia, and Canada. China, the world's largest emitter of carbon, has consistently stated that it will not give in 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 targets, will expire in 2012, causing concerns among investors who are seeking clarity on future climate policies and financing. While most affluent countries have committed to legally binding emission targets under Kyoto, the United States has not joined the agreement. Developing countries, like China, are expected to take voluntary actions to limit the growth of their emissions. The United States and other wealthy countries are pushing for a new international agreement to address the increasing greenhouse gas emissions coming from developing nations, which now account for over half of the world's annual emissions. However, countries like China and India have rejected the idea of committing to specific targets until they see stronger emission reductions from industrialized nations.