Expectations killed – COP 17, Durban

Posted on December 6, 2011 by

COP 17

Here are some updates on the negotiation in COP 17, Durban until now.

  • KP has no clear termination clause, any extension to its bodies and mechanisms will need UNFCCC COP approval.
  • As per the news of Point Carbon, U.S alone can considerably increase the total emission size of the world’s emissions. If the U.S. had ratified the KP during first commitment period i.e. during first phase, the KP may have covered half of the world’s emissions.
  • Now it is visible that the non annex 1 countries like Japan, Russia and Canada along with many non-Annex I followers (Don’t miss the U.S.) are in the list of non-KP supporters. Without them  a second commitment period could potentially see only 15% of the world’s emissions. This means that the scope of the CDM could reduce dramatically.
  • CER Price is dramatically dropped: Point carbon and other credible websites for CER pricing reported 5.3 Euro/CER. 
  • Several national and regional emissions trading schemes are coming up/ operational (like EU ETS/New Zealand) or in the pipeline such as Australia.  Linking these schemes with each other is another point of discussion. Australia has announced that it intends to start work on linking its fledgling trading scheme to those in New Zealand and the EU.
  • Canada still wants to be out from the Kyoto.
  • EU is willing to consider an extension of the current Kyoto Protocol commitments, in exchange for a broader international agreement to begin in 2015, with emerging economies like India and China under the same binding targets as western industrialized countries.
  • China, India maintains its current position of not committing to legally binding emissions cuts.
  • The U.S. maintains its own position that China and India must accept legally binding cuts like other annex 1 countries. Only then they can consider a new treaty. U.S. already confirmed that until resistance from India and China to the EU plan abates; it is not prepared to take on legally binding obligations.

Other news

  • Green Climate Fund (GCF): The draft report on the GCF was presented for consideration and approval. The G77 and China expects that the GCF would be a dedicated fund which is consistent and coherent under the convention. The group stated that the GCF needs to be operationalized and capitalized through an open, transparent and party-driven consultation process. Least Developed Countries (LDCs) and many other developed and developing countries want to see the GCF functional as early as possible preferable by the first quarter of 2012.
  • Technology Development and Transfer: Cancun has decided about Technology Mechanism that comprise of Technology Executive Committee (TEC) and Climate Technology Center (CTC). In Durban discussion is more on CTC such as governing structure of CTC and who will be possible host, selection criteria of host etc. There were two thoughts on governing body CTC. Developing countries are has demanded for separate governing board than the existing governing board of host organization. Whereas, developed countries argue having two governing board will be nightmare, it will add complexities to the process.
  • Adaptation Committee (AC): Discussion started and we are expecting new output soon.
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