Environmental experts participating in a climate change event in Brazil on Wednesday were realistic about the possible outcome of the United Nations Climate Change Conference (COP-16) in Cancun, which aims to reduce greenhouse gas emissions.

The event was organized by the Sao Paulo Stock Exchange (BM&F Bovespa). "Countries are realistic about the emission reduction goals. So we do not expect a legal agreement in Cancun for the future," Maria Netto, climate change specialist for the Inter-American Development Bank (IDB), said.

She hopes, however, that at least one decision on the funding policies for reducing emissions will be presented at the conference in Cancun.

World Bank energy specialist Christophe de Gouvello agreed with the IDB representative, but he believes there will be advances in Cancun in discussions on forestry's contribution to reducing global warming.

For Sonia Favaretto, director of sustainability at BM&F Bovespa, pessimism about the COP-16 can be seen as positive, because expectations for the COP-15 in Copenhagen were too high and therefore detrimental to finding a resolution.

"Lower expectations are good. In Copenhagen, the expectations were unrealistic. Cancun comes at a more rational and reasonable moment, and this may be good," she said.

Representatives from some 200 countries, which are members of the United Nations Framework Convention on Climate Change, will meet from Nov. 29 to Dec. 10 in Cancun, Mexico, for another round of negotiations to curb global warming.