EU to table options for global climate deal

Published: Monday 26 January 2009

The EU will present proposals on Wednesday (28 January) for an international agreement to replace the Kyoto Protocol on climate change. The bloc is calling for a increase in global investment to 175 billion euro per year by 2020, more than half of which must be spent in developing countries.

Next December in Copenhagen, the global community must decide upon a new international climate agreement to replace the Kyoto Protocol, which expires in 2012.

The United Nations Framework Convention on Climate Change (UNFCCC) conference, which took place in Poznań from 1-12 December 2008, represented the halfway point in global talks.

Despite a modest outcome, the conference nevertheless put in place the building blocks for strenuous negotiations to take place in 2009. The work programme approved in Poznań calls for proposals to be tabled in February and a negotiating document to be put forward by June. Heads of state and government could also debate the issue in September, when they meet for the UN General Assembly.

In a communication to be published next Wednesday (28 January), the European Commission will outline the bloc's position on a post-Kyoto global climate deal ahead of UN climate talks to take place in Copenhagen in December.

The draft document, obtained by EurActiv, urges rich nations to step up public funding to help developing countries cut their greenhouse gases and prepare for the negative impact of climate change.

"All developed countries will need to contribute to mobilising financial resources for adaptation and mitigation in developing countries via public funding and the use of carbon-crediting mechanisms," reads the draft paper.

Sources close to the file, however, cautioned that the paper is likely to be heavily revised before final approval on Wednesday.

The draft proposes two options to increase public funding, based on the 'polluter pays' principle. The first would require developed nations to pay a set price for every tonne of carbon dioxide emitted – starting with €1 per tonne and rising later to €3 – to reach a total of €28 billion in 2020. The other option, less predictable because it is linked to market fluctuations, would set aside a percentage of emissions traded for the fund.

Binding emissions targets for all OECD member countries

The EU executive will also urge developed countries to increase emission reduction commitments, opting for a binding agreement which would include all OECD member countries and all present and future EU member states.

But a "significant contribution from developing countries is also required," the paper states. "This needs to be enabled through significantly enhanced cooperation to provide necessary capacity, technology and finance," it adds.

According to the Commission, all developing countries except for the poorest ones should commit to adopting low-carbon development strategies by the end of 2011. These should cover all key emitting industries, especially the power and transport sectors. Such "robust low carbon strategies should be a pre-requisite for access to international support on mitigation actions," reads the draft.

Independent body to facilitate multilateral mechanisms

To ensure action is matched by financial and technical backup, the Commission is proposing a new 'Facilitative Mechanism for Mitigation Support,' which would provide a platform for bilateral and multilateral support schemes.

Aware of possible abuses of the system, the EU executive is proposing to create an independent body to ensure that the plan's ambitions are sufficient for achieving developing countries' overall emission reduction objectives.

Along the same lines, the EU executive is also backing a proposal from South Korea and South Africa to establish an international registry to record the mitigation actions of developing countries. "The registry should list the actions and show their mitigation benefits," the paper notes, saying it will be up to the UN climate change conference to assess their efforts. In light of the assessment, developing countries could be requested to step up their efforts with additional help from developed nations.

The Commission also suggests establishing another technical panel under the UNFCC to support adaptation efforts for both developed and developing countries.

Towards a global carbon market

As an increasing number of nations set up carbon trading schemes across the world, the Copenhagen agreement should also step up efforts to link these schemes together and create a global carbon market, reads the draft. An OECD-wide carbon market linking comparable cap-and-trade systems could be set up as a first step, it says.

Key to the success of such an initiative is a potential US cap-and-trade system, which is expected to be launched by the end of 2009, according to Barbara Boxer, chair of the US Senate's environment committee.

To facilitate the implementation of a strong system, the Commission draft proposes to put in place an EU-US working group. The EU executive is also proposing to reform the Clean Development Mechanism (CDM), which allows rich countries to finance projects in developing countries and claim credits under the EU emissions trading scheme (EU ETS; see EurActiv LinksDossier).

According to the draft, CDM credits should only reward actions that go beyond "low-cost or win-win options". Credits would be phased out for "advanced developing countries and highly competitive economic sectors" and replaced by separate cap-and-trade schemes.

Views: 40


You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"


mobile page

12160 Administrators



Latest Activity

Doc Vega commented on Doc Vega's blog post How Can This Be?
"Phylis, interesting observation, but on the other hand of believing that we have the capability of…"
48 minutes ago
Bob Renner posted photos
3 hours ago
Phyllis Maka posted blog posts
8 hours ago
Central Scrutinizer posted a blog post
11 hours ago
Chris of the family Masters favorited Less Prone's status
11 hours ago
Less Prone posted a status
11 hours ago
Mr. Sizzle commented on Bob Renner's photo
11 hours ago
Mr. Sizzle favorited James Roberts's blog post Robert Kennedy Demolishes Dershowitz With Big Pharma / Vaccine Facts In Debate
13 hours ago
Mr. Sizzle commented on Old Denmark's photo

Simo vs Chris

"For those that don’t know Simo Hayha was a Finnish sniper feared by the Soviet troops and…"
13 hours ago
James Roberts commented on James Roberts's blog post Robert Kennedy Demolishes Dershowitz With Big Pharma / Vaccine Facts In Debate
"LP - I couldn't agree more. Like Lindsay Graham, or Bernard Kerik, Fox keeps inviting him on.…"
14 hours ago
Mr. Sizzle favorited Old Denmark's photo
14 hours ago
Burbia commented on Bob Renner's photo
15 hours ago
Chris of the family Masters posted a status
"We've just had lowest minimum temperature on record in South Australia. So much for global warming....."
18 hours ago
Burbia posted a video

Arsonist Caught In The Act By Officers In Ventura

08.03.2020 | 11:37 PM | VENTURA - An arsonist was caught in the act by officers responding to reports of a fire, late Monday night. Authorities responded to ...
21 hours ago
Burbia favorited Maas's photo
21 hours ago
Chris of the family Masters posted a video

The Power Of Jurisdiction

**Urgent Join Our Alliance & Communication Network - Donate To Jesse Perez Casanova PayPal Donation Link -
21 hours ago
Old Denmark posted a photo
22 hours ago
Less Prone favorited Bob Renner's photo
23 hours ago
Less Prone commented on James Roberts's blog post Robert Kennedy Demolishes Dershowitz With Big Pharma / Vaccine Facts In Debate
"It tells a lot about our society when pedo creeps like Dershowitz are given any media attention,…"
23 hours ago
Less Prone favorited James Roberts's blog post Robert Kennedy Demolishes Dershowitz With Big Pharma / Vaccine Facts In Debate

© 2020   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 2007-2019 - all rights reserved. unless otherwise noted