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The Danish Presidency will now present the draft to all countries in the plenary meeting at the climate change conference. After this, the meeting will be adjourned, to then be resumed for a general debate. All countries must be in agreement for the proposal to be adopted.
In the agreement, a commitment of USD 30 billion from industrialised countries over the period 2010 to 2012 was decided, as ‘fast start funding’ for adaptation, emissions reductions, research and capacity building in developing countries, including funding to prevent deforestation. Mobilisation of financing for the needs of developing countries beyond the year 2020 is also addressed in the agreement and is estimated at USD 100 billion per year from 2020.
“What we wanted to achieve when we came here to Copenhagen was to get us out of the deadlock. Either we do something or we land in nothing. And now we have seen countries make efforts and set goals. Even countries that said they wouldn’t make any commitments have presented figures”, said Fredrik Reinfeldt.
Attached to the agreement is an annex, where countries or groups of countries can fill in their commitments on emissions reductions or climate change action. Mr Reinfeldt stressed that the agreement is not sufficiently ambitious for the EU to change its emissions target to a 30 per cent reduction by 2020.
A fund is proposed in the agreement, called the Copenhagen Green Climate Fund. Money will be channelled through the fund to support different initiatives for adaptation, emissions reductions and technology development. A mechanism will also be established to intensify technology transfer between developed and developing countries.
President of the European Commission José Manuel Barroso also participated in the press conference.
“This agreement is better than none at all, but it is clearly below our objective. I am not going to hide my disappointment”, he said, and added:
“But it is the first step in a very important process.”
by S. C.
20 december 2009, Food & Fun > Nature