HAHAHAHAHA!
You have such a way with words.
The CESM's participated in a conference that was supposed to forge a compromise on global warming. The "bad" industrialized nations (read America) wanted to be able to buy clean air credits from non-industrialized nations. This would have had the effect of spreading money around the globe while still lessening the overall economic impact on the bad guys. In turn, this might have created a treaty that the US Senate could actually sign.
Enter the CESM's. They refused the deal demanding that the US and other nasty polluters be economically punished to the greatest extent possible. The deal was killed and so was the Treaty, since it was meaningless without US participation. This is probably an over-simplification, but that the jist of it.
But I thought the treaty went forward without the US. I thought part of the rationale for the New Zealand Cow Flatulence tax was to be compliant with Kyoto.