WebConnect

The text in full is attached here. We have written a brief overview of the decisions contained in this text.
 

Article 1:  Underlines the challenge of climate change and of keeping global temperature increases below 2 degrees Celsius.
 

Article 2: Agrees with the Intergovernmental Panel on Climate Change’s recommended reductions of global emissions by 50% from 1990 levels by 2050, taking into account the right to equitable access to atmospheric space. Recognises that there should be different peaking times for Annex I and non-Annex I states.

 

Article 3: Developed countries shall provide adequate, predictable and sustainable financial resources, technology and capacity-building in developing countries.
 

Article 4: Annex I nations shall reduce emissions individually or jointly by at least 80% from 1990 levels by 2050. This also commits to implementing individual or jointly as-yet undefined quantified economy-wide emissions targets by 2020, based on percentage reductions compared to 1990 or 2005. Measurement and verification shall be carried out in line with the guidelines of the COP.
 

Article 5: Non-Annex I Parties to the Convention are to implement mitigation actions including those listed in Article 4.1 and 4.7. Non Annex I Parties shall communicate their actions through national communications consistent with Article 12.1 (b) every two years on the basis of guidelines to be adopted by the COP.  Those mitigations actions listed in national communications or otherwise communicated to the Secretariat will be added to the list in Appendix II. Mitigation actions shall be done in line with national measures, reporting and verification and basis of every two years.

 

Article 6: Recognises REDD-plus.
 

Article 7: Recognises the use of market mechanisms to achieve these goals.
 

Article 8:  Scaling up of financing: Developed countries collectively commit $30 billion for the period 2010–2012 as listed in Annex III, balanced between adaptation and mitigation in forestry. Developed countries will support meaningful mitigation actions jointly by mobilizing $100 billion dollars a year by 2020.
 

Article 9: A High-Level Panel to cover financial measures shall be established, and be accountable to the COP.

 

Article 10: Establishment of a Copenhagen Climate Fund.
 

Article 11: Establishment of a Technology Mechanism in line with decision -/CP.15.
 

Article 12: Review of this accord by 2016, including considering the need to change the limit on global temperature increases to just 1.5 degrees Celsius.”

 

 

(C) 2010 IDEAcarbon Strategic Limited. All rights reserved. For further information please contact IDEAcarbon at info@ideacarbon.com. Web: www.ideacarbon.com