1 February 2011 – South Africa’s task at the 17th UN conference of the parties on climate change in November, 2011 is both “appealing and unenviable” judging by the results at the Cancun, Mexico, COP, according to a Deloitte Touche Tohmatsu report.
The report on the Cancun conference from 29 November to 10 December 2010 by the company’s global team acknowledged that agreements were reached on some key issues providing a platform for relatively smooth progress. But the lack of consensus on the legal form of a successor to the Kyoto Protocol was an unenviable challenge for the Durban meeting.
Observers generally concluded that Cancun provided a reprieve to the seemingly quite threatened UN multilateral negotiation process, but if this year’s Durban conference ended with a legal agreement still unresolved the UN cannot be guaranteed continued smooth sailing. Companies would do well to continue to monitor the process and how it may affect them, the report concluded.
Report highlights include.
- UN framework- based carbon markets will continue after 2012. , as the clean development mechanism was formally extended
- Progress on reduced emissions from deforestation in developing countries
- Funding for emissions mitigation and climate change adaptation in developing countries, including how these funds would be sourced.
- Developing nations heralded the establishment of guidelines for a green climate fund, charged with allocating the eventual $100 billion/year in mitigation and adaptation aid pledged in Copenhagen.
- Establishment of an executive committee and a climate technology centre and network
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