Most developing and developed nations agree that global emissions need to come down, but few are willing to accept binding cuts without certain (and often conflicting) conditions.

FORBES: It's Crunch Time For Kyoto

Buyers and suppliers who have no binding relationship, by contrast, and who stick to standard legal tenders without reference to current difficult market conditions, could find themselves in a new realm of uncharted territory with little trust.

WSJ: United They'll Stand