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Wednesday, 5 October 2011


CANCUN Summit: World Climate Summit (WCS) in Cancun, Mexico, which kicked-off officially on November 29th, 2010 is said to be the beginning of a new, open and collaborative global 10-year framework dedicated to helping governments, businesses and financiers accelerate solutions to climate change.

1. Global Warming: Given the urgency of the problem of global warming, a gradual climate policy is still not enough. Yet the UN climate negotiations this time proved to be surprisingly robust and resolute. They produced a modest deal that, for the first time, commits all the major economies to reducing emissions, but not enough to meet their promise of keeping the global temperature rise to 2°C. However, governments failed to reach agreement on how far overall global emissions should be cut.

2. Deforestation: Formal backing was given for the UN's deforestation scheme, REDD (reducing emissions from deforestation and degradation), under which rich countries pay poorer nations for not to chop down forests and so lock away carbon emissions.

3. Kyoto Protocol: Decisions on the future of the Kyoto protocol, the current international treaty binding rich countries to cut emissions, were effectively deferred until South Africa summit in 2011.

4. Copenhagen Accord: Cancun summit has not dealt in with any new accord; rather it has tried to conclude the objectives decided at COP 15. The Green Climate Fund, including REDD-plus, adaptation, capacity-building, and technology development and transfer were the chief issues at Copenhagen. The proposals for a mandatory cut in carbon emission were proposed under Copenhagen accord. Also, the deal at Cancun has given substance to the notion of an inspection regime, which was raised at Copenhagen.

5. Cop 17: The 17th United Nations Framework Convention on Climate Change (COP 17) will be held in the city of Durban, South Africa.

6. Green Climate Fund: During climate talks in Cancun, delegates from developed countries agreed to set up a Green Climate Fund. Developed countries agreed in Copenhagen to provide $100 billion annually by 2020 to developing countries to mitigate the climate change. The Fund will be governed by a board of 25 people. The U.N. will manage the Fund, instead of the World Bank. However, the World Bank will be the interim trustee of the Fund for the first three years after its launch; it will then be subject to a review.

7. Climate Technology Centre and Networking: The idea of transferring knowledge of clean technology between countries was backed at Cancun. A technology executive committee and a climate technology centre and network are to be set up.

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