An annual supporter of the Corporate Leaders Network for Climate Action, CloudApps once again lent our support to the 2C Challenge Communiqué. As such we are encouraged by the late-breaking news from the Durban Summit. There is however, clearly a long way to go and a need to flesh out the precise details in order to deliver against this “commitment to sign a legally binding treaty”, but significant progress has without doubt been made.
BusinessGreen covered the breaking events, stating:
Businesses hail ‘great result’ at Durban Summit
Business leaders have broadly welcomed the last-gasp international deal agreed in the early hours of the Durban Summit yesterday morning, which for the first time commits all countries to signing on to a new legally binding climate change treaty.
In dramatic scenes, ministers reached an agreement on a new text almost 36 hours after the scheduled close of the two-week summit.
The text, known as the Durban Platform for Enhanced Action, will see the EU and a handful of other countries extend the Kyoto Protocol into a second commitment period, allowing for the continuation of emission reduction initiatives enabled by the treaty such as the Clean Development Mechanism (CDM).
In return all countries agreed to deliver a new protocol, another legal instrument, or an “agreed outcome with legal force” by 2015 that will then be enacted by 2020. The wording paves the way for large economies such as the US, China, India and Brazil to be subjected to legally binding climate change obligations for the first time.
The summit also agreed the structure for a new international Green Climate Fund with talks set to start next year on how to funnel $100bn a year of finance to the fund each year from 2020.
UK’s Department of Energy & Climate Change (DECC) also covered the news with this press release:
Road open to new global legal climate treaty
11 December 2011
- Global agreement achieved on a roadmap to a legally binding deal
- Second commitment period of Kyoto Protocol to be agreed next year
- Green Climate Fund to be set up
Negotiators in the early hours of Sunday morning. European Commissioner for Climate Action, Connie Hedegaard (centre) with the UK’s Head of International Climate Change, Pete Betts (to the left, seated)The UN climate talks in South Africa have been heralded a success after a climate change deal was struck in the early hours of Sunday morning.194 parties have spent the past two weeks in Durban discussing how to cut emissions to limit global temperature rise to below two degrees to avoid dangerous climate change.
In a major realignment of support, well over 120 countries formed a coalition behind the EU’s high ambition proposal of a roadmap to a global legally binding deal to curb emissions. African states together with the least developed countries such as Bangladesh and Gambia, and small island states vulnerable to rising sea levels, like the Maldives, joined with the EU to put forward a timetable which would see the world negotiate a new agreement by 2015 at the latest.
The talks resulted in a decision to adopt the second commitment period of the Kyoto Protocol next year in return for a roadmap to a global legal agreement covering all parties for the first time. Negotiations will begin on the agreement early next year.
Energy and Climate Change Secretary Chris Huhne said:
“This is a significant step forward in curbing emissions to tackle global climate change. For the first time we’ve seen major economies, normally cautious, commit to take the action demanded by the science.
“The EU’s proposal for the roadmap was at the core of the negotiations and the UK played a central role in galvanising support. This outcome shows the UNFCCC system really works and can produce results. It also shows how a united EU can achieve results on the world stage and deliver in the UK’s best interests.
“There are still many details to be hammered out, but we now need to start negotiating the new legal agreement as soon as possible and there are still many details to be hammered out.”
Also the conference agreed to get the Green Climate Fund up and running, this will help deliver financial support to developing countries to reduce emissions and adapt to the effects of climate change.