http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.70Change: -0.15
R/$ = 11.02Change: -0.07
Au 1197.18 $/ozChange: 2.23
Pt 1206.50 $/ozChange: 1.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Dec 12, 2011

COP 17 breathes life into climate fund, sets agenda for future treaty

Back
Cancun|DURBAN|Africa|COP 17|Projects|Resources|UNFCCC|Africa|Canada|Japan|Mexico|Russia|South Africa|United States|COP|USD|Clean Energy Futures|Climate Change Finance Going|Climate Finance|Energy|Long-term Finance|Technology Mechanism|Environmental|Ban Ki-moon|Christiana Figueres|Jim Leape|Maite Nkoana-Mashabane|Samantha Smith|Hoc
|Africa|Projects|Resources||Africa|||Energy||Environmental||
cancun|durban|africa-company|cop-17-company|projects|resources|unfccc|africa|canada|japan|mexico|russia|south-africa|united-states|cop-currency|usd|clean-energy-futures|climate-change-finance-going|climate-finance|energy|longterm-finance|technology-mechanism|environmental|ban-kimoon|christiana-figueres|jim-leape|maite-nkoanamashabane|samantha-smith|hoc
© Reuse this



‎The two-week-long seventeenth Conference of the Parties (COP 17) came to an end in Durban this weekend with a fund launched to help poor nations fight climate change, countries agreeing to negotiate a legally binding deal on emissions reductions by 2015 to take effect by 2020, and the Kyoto Protocol extended.

The ‘Durban Platform’ would result in the full implementation of the package to support developing nations, agreed last year in Cancun, Mexico. Particularly key, is the $100-billion a year Green Climate Fund, which would become fully operational in 2012.

Countries have already started to pledge toward start-up costs of the fund, said COP 17 president Maite Nkoana-Mashabane, also South Africa’s Minister of International Relations and Cooperation.

This meant that the fund could be made ready in 2012, and at the same time could help developing countries get ready to access the fund.

This, the Minister said would boost developing countries efforts to establish their own clean energy futures and adapt to existing climate change.

A standing committee would monitor the climate finance in the context of the United Nations Framework Convention on Climate Change (UNFCCC) and to assist the COP. It would comprise 20 members, equally representing the developed and developing world.

A focused work programme on long-term finance was also agreed, which would contribute to the scaling up of climate change finance going forward, and analyse options for the mobilisation of resources from a variety of sources.

Other elements of the package included the implementation of an adaptation committee, tasked to improve the coordination of adaptation actions on a global scale, as well as a technology mechanism, also to be fully operational by 2012.

The full terms of reference for the operational arm of the mechanism, the Climate Technology Centre and Network, were agreed to, along with a clear procedure to select the host.

The UNFCCC secretariat would issue a call for proposals for hosts in January.

Governments also agreed a registry to record developing country mitigation actions that seek financial support and to match these with support. The registry aims to be a flexible, dynamic, web-based platform.

Interestingly, under the Kyoto Protocol’s Clean Development Mechanism, governments adopted procedures to allow carbon-capture and storage projects. These guidelines would be reviewed every five years to ensure environmental integrity.

But, while pledging to make progress in a number of areas, governments acknowledged the urgent concern that the current sum of pledges to cut emissions both from developed and developing countries is not high enough to keep the global average temperature rise below 2 oC on preindustrial levels.

LEGAL FRAMEWORK

The climate change talks also resulted in 195 parties agreeing to negotiate an universal legal agreement on climate change by no later than 2015, which will take effect in 2020.

This pledge by developed and developing nations would result in work beginning immediately under an ad hoc working group.

Only 38 industrialised countries agreed a second commitment period of the Kyoto Protocol from January 1, 2013, with the first commitment period coming to an end in December 2012.

Parties to this second period would turn their economy-wide targets into quantified emission limitation or reduction objectives and submit them for review by May 1, 2012.

“This is highly significant because the Kyoto Protocol’s accounting rules, mechanisms and markets all remain in action as effective tools to leverage global climate action and as models to inform future agreements,” said UNFCCC executive secretary Christiana Figueres.

A significantly advanced framework for the reporting of emission reductions for both developed and developing countries was also agreed, taking into consideration the common but differentiated responsibilities of different countries.

But, while a package to assist the developing world has been agreed to, as well as a roadmap to work towards a legally binding agreement, the World Wide Fund for Nature (WWF) described COP 17 as a “failure” by governments.

WWF director-general Jim Leape said that politicians in Durban have shown an “alarming inability to come to grips with the challenge of climate change”.

However, they did concur that a comfort of the Durban negotiations was the emergence of a large coalition of high-ambition countries, led by the most vulnerable nations and small island States, including many in Africa.

“Overall, the responsibility for this failure lies with a handful of entrenched governments, such as the US, Japan, Russia and Canada, who have consistently raised the level of ambition on climate change,” WWF global climate and energy initiative leader Samantha Smith said.

But UN secretary general Ban Ki-moon argued that the decision to launch a protocol or a legal instrument applicable to all parties under the UNFCCC was essential for greater action and for raising the level of ambition and the mobilisation of resources to respond to the challenges of climate change.

He believed that the agreements at COP 17 “represented an important advance in the work of climate change”.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Increased maintenance costs, poor rolling mill yields and strike action have widened Evraz Highveld Steel’s operating loss, from R149-million in the nine months ended September 30, 2013, to R483-million for the comparative 2014 period. The company added on Monday...
Energy Minister Tina Joemat-Pettersson has misled Parliament and should be suspended pending an investigation, the DA said on Monday. "Reports indicate that the minister was involved in recommending and appointing Mr Tshepo Kgadima as chairman of the board of...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
JSE-listed real estate investment trust (REIT) Rebosis Property Fund achieved a distribution growth of 8.1% to 99.45c per linked unit in the financial year ended August 31, despite volatile market conditions.
JAMES ROBERTS The MOM incubator was designed to help babies in developing nations who were dying in conflict-struck nations or who do not receive hospital care
A low-cost, inflatable incubator won this year’s international James Dyson design award, which aims to encourage and inspire the next generation of design engineers.
The World Bank released its ‘Doing Business 2015: Going Beyond Efficiency’ report last month and ranked South Africa 43 out of 189 global economies for its ease of doing business, with Singapore topping the rankings.
Air Products South Africa officially launched its R300-million Eastern Cape air- separation unit (ASU), at its new manufacturing facility in the Coega Industrial Development Zone (IDZ), earlier this month. It is the second facility that Air Products launched in South...
BMW South Africa (SA) has signed a power purchasing agreement with energy company Bio2Watt. The offtake partnership will bring renewable energy to the carmaker’s Rosslyn plant, north of Pretoria.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks