On Friday, a major working group under the United Nations Framework Convention on Climate Change produced a draft text which could form the basis for negotiations between rich and poor countries at the Climate Change Conference in Copenhagen.
Not surprisingly, there are many sections which remain bracketed as no agreement has yet been reached between the parties.
Still in brackets is the temperature at which global warming should be kept. Previous meetings and conferences have suggested that global average temperatures ought not to exceed 2 Degrees Celsius. The draft text contains in brackets 2 Degrees Celsius, as well as, 1.5 Degrees Celsius.
There are brackets too, around emissions reduction levels which ought to be halved, but this could be 85 or 95 percent by 2050, using 1990 levels as the base.
The draft also contains specific bracketed proposals on how much developed countries should reduce green house gas emissions in the interim–75-85 percent, but this could be as high as 95 percent or more, by 2020.
Developing countries should aim at achieving a “substantial deviation” in emissions, (in the order of 15-30 percent by 2020), according to the draft text, but this is yet to be agreed upon.
Glaringly absent from the draft text is the issue of financing to support adaptation to climate change by developing countries. But perhaps such weighty decisions are awaiting the 110 heads of state and government who are expected to be present for the final two days of the conference next week.
The European Union has already committed $3.6 billion, annually, in short-term funding over the next three years. The G-77 has called this “insignificant” and worry that no financing mechanisms are being discussed. Meanwhile, China is concerned about long-term financing.
Reaching agreement on the level of financing and its duration, is expected to be a contentious issue between rich and poor countries’ participants.
Source: en.cop15.dk
