This article is followed by a nice slideshow.President Obama has reportedly come to an agreement with South Africa and China on dealing with climate change. The agreement with China will include transparency by having an independent verify China's emission control process. In exchange, China expects the U.S. to provide funding.
The U.S. has agreed to cut down on carbon emissions to 17%.
The agreements fall short of what was hoped by the European Union which already has substantial carbon emissions restrictions in place. Leaders of EU nations have complained that it will give China and the U.S. (two of the largest polluters in the world) unfair advantage in competition among corporations.
Obama administration officials admit that the agreements will not begin to stop the threat of climate change but say "it's an important first step."