At 4:00 am on December 11, delegates adopted the Cancún Agreements ... ... Under these agreements: (1) rich countries "shall aim to complete" further cuts in greenhouse gas emissions before the Kyoto Protocol expires in 2012; (2) parties set a goal to hold global average temperature to less than 2°C above pre-industrial levels; (3) parties will "work towards identifying a global goal for substantially reducing global emissions by 2050" for consideration at the next meeting in Durban; (4) parties dropped the shared vision that global greenhouse gases should peak by 2015; (5) parties set up a process for accounting and monitoring of greenhouse gases; (6) developing countries undertaking mitigation actions supported by outside money will be subject to international auditing; (7) parties will establish a Green Climate Fund with a 24-member board of directors, half from developed and half from developing countries.More from UNFCC and G&M.
Environment Minister John Baird refused to commit Canada to taking on new obligations under Kyoto, preferring the more flexible Copenhagen approach.
Sunday, December 12, 2010
Climate Deal in Cancún