Climate change is happening, and it is happening quickly. Global standards to curb climate change are necessary. Sure, tougher standards might hurt profits in the short term. However, what good is your money if the earth is no longer inhabitable and we drive ourselves into extinction? I believe that instead of looking at climate change standards as an economic drag, we should be looking at them as a necessary step to ensure our survival on this planet.
No, developed countries do not have a higher obligation to combat climate change, because climate change is a world problem that demands a world solution. If developing nations are not part of the solution, they will not be careful to develop their economies in a way that prevents them from being major contributors in the future.