Brazil's President Luiz Inacio Lula da Silva expressed on Friday his frustration with the impasse in the negotiations about carbon emission reduction goals at the United Nations Climate Change Conference (COP15), which is being held in Copenhagen, Denmark.

In the last day of the Conference, world leaders gathered in Copenhagen have yet to reach an agreement on how much reduction each country will have to achieve in its carbon emissions. Negotiations continue, and may last through the weekend.

Brazil had already announced its reduction goal before -- the country said it is committed to reducing its carbon emissions by 36.1 to 38.9 percent by 2020. The government estimates that the measure will cost the country some US$16 billion annually.

According to President Lula, the responsibility to reduce the harmful greenhouse gas emissions has to be shared by all countries. However, he added, the fact that developed countries contributed more to the global warming cannot be forgotten.

The president accused the developed countries of trying to bargain, and said that the problem is not only the money, but also the political will to make the necessary changes.

"When we think about the money, we cannot think we are doing some favor, that we are giving alms. The money which will be put on the table is the payment for two centuries of greenhouse gases emission of those who had the privilege to develop first," the president said.

Additionally, President Lula stressed that Brazil is willing to contribute to a world fund aimed at financing measures to reduce greenhouse gas emissions in poorer countries.

"If it is necessary for Brazil to make one more sacrifice, we are willing to participate in the financing," he said.

(Xinhua News Agency December 19, 2009)