FACTBOX-Bush adds new track to U.N. climate bid

(Reuters) - U.S. President George W. Bush introduced plans for a global warming conference in September that would bring together the world's biggest polluters to seek a reduction in greenhouse gas emissions.

Following is a timetable, and some hurdles, for a global deal likely to start up on January 1, 2013, after the first period of the United Nation's Kyoto Protocol runs out.

Under Kyoto, 35 industrialized nations have agreed to cap their greenhouse gas emissions, cutting by 5 percent on average below 1990 levels by 2008-2012.

TIME RUNNING SHORT

Time is starting to run short to ensure a smooth transition to a new set of rules beyond 2012 because governments widely reckon it will take about two years to negotiate any new pact and a further two for ratification.

It took two years from 1995-97 to negotiate Kyoto and eight more to ratify before the deal entered into force in 2005. Carbon markets and investors, for instance in new factories or power plants, want to know new rules as early as possible.

2007

May 31 - Bush said he wanted 15 top emitters of greenhouse gases -- which are led by the United States, China, Russia and India -- to "work together to develop a long-term global goal to reduce greenhouse gasses."

Bush's current U.S. plan lasting until 2012 brakes the rise of U.S. emissions without mandating Kyoto-style cuts and he has favoured voluntary international deals with rich nations providing cleaner technologies to poorer nations. Some nations fear Bush's plan will rival rather than reinforce U.N. efforts.