Negotiations on COP 6 resumed from 17 to 27 July 2001 in Bonn, Germany, with little progress in resolving disputes that had led to a deadlock in The Hague. However, this meeting took place after George W. Bush became President of the United States and rejected the Kyoto Protocol in March 2001; As a result, at that meeting, the United States delegation refused to participate in the protocol negotiations and decided to play the role of observer at the meeting. While the other parties were negotiating key issues, agreement was reached on most important political issues, much to the surprise of most observers, given the lack of expectations that preceded the meeting. The agreements included: COP 4 was held in Buenos Aires, Argentina, in November 1998. The outstanding issues were expected to be closed in Kyoto at that meeting. However, the complexity and difficulty of reaching agreement on these issues proved insurmountable and the parties adopted a two-year “action plan” to advance efforts and develop mechanisms for implementing the Kyoto Protocol, which is expected to be finalized by the year 2000. During COP4, Argentina and Kazakhstan expressed their commitment to reducing greenhouse gas emissions, the first two non-annex countries, their commitment to reduce their greenhouse gas emissions. The conference did not reach a binding agreement on long-term measures. A 13-paragraph “political agreement” was negotiated by about 25 parties, including the United States and China, but was only “noted” by the COP because it is considered an external document and is not negotiated under the UNFCCC process.  The agreement was remarkable in that it was a common commitment by developed countries to new and additional resources, including forestry and investment by international institutions, to $30 billion over the 2010-2012 period.
The longer-term climate finance options mentioned in the agreement will be discussed in the UN Secretary-General`s High-Level Advisory Group on Climate Financing, which is expected to report in November 2010.