December 2010 - After what were difficult negotiations, the Climate Change Summit in Cancun adopted a comprehensive package of measures. The goal of restricting global warming to a maximum two degrees Celsius was laid down for the first time in a UN document. The emission reduction pledges made at the Copenhagen summit were also set out in writing, but they are also to be tightened. These decisions are a key milestone on the way to a new climate change agreement.
The package agreed in Cancun takes in reduction measures implemented by industry and developing countries, the establishment of a global climate fund, agreements on climate change adaptation, forest conservation, technological cooperation, and capacity building in developing countries. An agreement was also reached on a process to evaluate which additional measures are needed to attain the two degree target.
Fundamental agreements were also reached on transparency in national climate change measures. Industrialised countries have agreed to mobilise an annual US$ 100 billion for climate change activities in developing countries from 2020.
With regard to the Clean Development Mechanism, the following decisions were reached:
In a separate decision, the Conference of the Parties agreed that carbon capture and storage (CCS) should be approved as a CDM project activity. Details are still being worked out.
More information will be available shortly here on the website, and in the JIKO Info newsletter early this year.