Cancun Accords on climate change adopted at 4 am sharp! Full texts to be posted soon at http://unfccc.int/2860.php . Key elements of the deal:
* Goal to limit global warming to below 2 degrees and possibly 1.5 degrees (subject to science review) * Quantified economy-wide emission reduction targets by developed countries (to be communicated and listed) * Developing countries “will” take mitigation actions (to be communicated and listed) * Registry for developing country actions * Establish a Green Climate Fund (with the World Bank at the helm for 3 years) * Finance of $30 billion for 2010-12 and $100 billion per year by 2020 * International Technology Mechanism for environmentally friendly technologies * Establish the Cancun Adaptation Framework including an Adaptation Committee (to help countries adapt to the negative impacts of climate change) * REDD + (forest-related emissions) * Establishes international forum for the consequences of climate policy (a Saudi Arabia proposal on ‘response measures’) * Includes carbon-capture-and-storage as poicy option * LULUCF decision with Annex with reference levels for Annex I countries The agreement texts do NOT: - Contain global emissions targets for 2020 or for 2050; - Guarantee Kyoto 2 (second commitment period); - Determine legally binding outcome of the negotiations (legal form) Regards, Radoslav S. Dimitrov, Ph.D. Associate Professor Department of Political Science University of Western Ontario Social Science Centre London, Ontario Canada N6A 5C2 Tel. +1(519) 661-2111 ext. 85023 Fax +1(519) 661-3904 Email: [email protected]
