UPDATE 1-EU tempers hopes of binding climate deal this year

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clipped from uk.reuters.com * EU focusing on South Africa, 2011 for climate treaty * Climate Commissioner to lay out strategy for 2010 * Leaked paper warns of climate funding shortfall BRUSSELS, March 5 (Reuters) - The European Union executive is tempering its hopes of securing a legally binding climate deal in talks this year culminating in Cancun, Mexico, focusing instead on a 2011 summit in South Africa, a source said. "The realistic approach is to aim for deliverables in the Bonn and Cancun meetings this year, and then to aim for a legally binding agreement in South Africa," the European Commission source said on condition of anonymity. EU climate negotiators are struggling to find direction after Copenhagen talks in December ended in a weak accord. Continued...

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