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Cancun Summit: Cunningness or Compromise? Bookmark and Share  
 
  Author Name : K Ramesh Babu Posted on : December-12-2010 Total Hits: 18311
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As not like the one which ended up at Copenhagen current Cancun UNFCCC has ended up with a positive note, as claimed by all the 190 participants.

 

The conference on the aegis of Kyoto Protocol envisages 5 percent emission cut by the industrialized countries of their 1990 level and assisting developing countries to reduce their carbon-dioxide emissions.

 

Indian position over the issue was in line with other emerging economies like Russia, China and Brazil etc. to insist the western giants first to cut-off their emission level before making diktats to them.

 

However, they were so far unsuccessful since the only nation to avoid ratifying Kyoto agreement was none other the world’s largest polluter USA. Though China recently surpassed the US to reach the number one position, America was determined not to sign the pact unless or otherwise there should be a legally binding reduction commitment from the developing bloc. Since developing countries argue for slowing down the carbon means that their economic growth will face corresponding slackness. Hence they augment for more reduction from the developed countries which are polluting since the World War II.

 

These contradictions were preventing any agreement that has to be reached among the stake holders. Now Cancun has handed out an opportunity to settle and take forward the issue with a promising future. However, several of the member countries have cautioned that developed countries who are pledging $100 billion Green Funding (starting with $30 billions for a ‘fast start’ with next two years) to the poorer countries to overcome the development break that caused by emission limits and cuts should get materialized in order to go ahead in this regard.

 

“Cancun has done its job. The beacon of hope has been reignited and faith in the multilateral climate change process to deliver results has been restored” said UNFCCC Executive Secretary Christiana Figueres. Nations have shown they can work together under a common roof, to reach consensus on a common cause. They have shown that consensus in a transparent and inclusive process can create opportunity for all” she said.

 

“Governments have given a clear signal that they are headed towards a low-emissions future together, they have agreed to be accountable to each other for the actions they take to get there, and they have set it out in a way which encourages countries to be more ambitious over time” she said.

 

Finally “This is not the end, but it is a new beginning. It is not what is ultimately required but it is the essential foundation on which to build greater, collective ambition” said Ms. Figueres.

 

The summit has agreed some of the following points as element of agreement:-

Industrialized country targets are officially recognized under the multilateral process and these countries are to develop low-carbon development plans and strategies and assess how best to meet them, including through market mechanisms, and to report their inventories annually.

 

Developing country actions to reduce emissions are officially recognized under the multilateral process. A registry is to be set up to record and match developing country mitigation actions to finance and technology support from by industrialized countries. Developing countries are to publish progress reports every two years.

 

• Parties meeting under the Kyoto Protocol agree to continue negotiations with the aim of completing their work and ensuring there is no gap between the first and second commitment periods of the treaty.

 

• The Kyoto Protocol’s Clean Development Mechanisms has been strengthened to drive more major investments and technology into environmentally sound and sustainable emission reduction projects in the developing world.

 

• Parties launched a set of initiatives and institutions to protect the vulnerable from climate change and to deploy the money and technology that developing countries need to plan and build their own sustainable futures.

 

• A total of $30 billion in fast start finance from industrialized countries to support climate action in the developing world up to 2012 and the intention to raise $100 billion in long-term funds by 2020 are included in the decisions.

 

• In the field of climate finance, a process to design a Green Climate Fund under the Conference of the Parties, with a board with equal representation from developed and developing countries, is established.

 

• A new Cancun Adaptation Framework is established to allow better planning and implementation of adaptation projects in developing countries through increased financial and technical support, including a clear process for continuing work on loss and damage.

 

• Governments agree to boost action to curb emissions from deforestation and forest degradation in developing countries with technological and financial support.

 

• Parties have established a technology mechanism with a Technology Executive Committee and Climate Technology Centre and Network to increase technology cooperation to support action on adaptation and mitigation.

 
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