SUMMING UP COPENHAGEN

What was agreed and left unfinished in U.N. climate deal
Gerard Wynn (w/Jon Hemming), December 20, 2009 (Reuters)

"…The [Copenhagen] accord was not legally binding, and did not commit countries ever to agree a binding successor to the Kyoto Protocol, whose present round ends in 2012…[and so] it did not guarantee global participation…

"…A NEW TREATY?…[1] No decision on whether to agree a legally binding successor to the Kyoto Protocol…[2] No agreement on whether to sign one new treaty replacing Kyoto, or two treaties…[3] Kyoto limits the emissions of nearly 40 richer countries from 2008-2012, but the United States never ratified [it]…[and] it does not bind…[4] Rich nations prefer one new treaty including all countries; developing countries want to extend and sharpen rich nation commitments under Kyoto, and add a separate deal binding the United States and supporting action by poorer countries…[5] No agreement on…[any specific] time frame."

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"…LONG-TERM GOAL TO FIGHT CLIMATE CHANGE…[1] Recognizes "the scientific view that the increase in global temperature should be below 2 degrees Celsius."…[2] Agrees that "deep cuts in global emissions are required according to science."…[3] Agrees to stop global and national greenhouse gas emissions from rising "as soon as possible." …[4] No agreement on goals for global emissions cuts in the long-term…[5] Implementation of the accord would be reviewed in 2015 to ensure the world was avoiding dangerous climate change…

"…2020 EMISSIONS CUTS BY DEVELOPED COUNTRIES…[1] Rich countries would "commit to economy-wide emissions targets for 2020" to be submitted by 31 January 2010…[2] Rich nation parties to the Kyoto Protocol would strengthen their existing targets…[3] No agreement on a base year for 2020 goals…[4] Rich nations have so far offered 2020 targets of cuts about 14-18 percent below 1990 levels…[5] Developing nations including China want collective rich nation cuts of at least 40 percent by 2020 versus 1990…CLIMATE ACTION BY DEVELOPING NATIONS…[1] Developing nations would "implement mitigation actions" to slow growth in their carbon emissions, submitting these by January 31 2010…[2] Developing countries would report those actions once every two years via the U.N…[3] Actions which rich nations paid for would be recorded…"

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"…FINANCE…[1] Establishes a "Copenhagen Green Climate Fund." …[2] Agrees a "goal" for the world to raise $100 billion per year by 2020 to help developing countries cut…[and] adapt…[3] The funding would come from a "a wide variety of sources."…[4] Developed countries would raise funds of $30 billion from 2010-2012…[5] No agreement on how much individual countries would contribute to or benefit from any funds…[6] "A significant portion" of the funds would…support projects to slow deforestation, help countries adapt to climate change and fund the development and sharing of clean technologies…[7] Recognized the "crucial role" of reducing carbon emissions from destroying forests, and to raise funds to achieve that…

"…EXCLUDED SECTORS, LOOPHOLES…[1] No agreement on whether to include emissions from aviation and shipping [though Kyoto excludes them]… [or] make it mandatory to include farming and forestry…a third of all global greenhouse gases… ON CARBON MARKETS…[1] No agreement on how to scale up carbon finance under Kyoto's existing $6.5-billion clean development mechanism (CDM)…[or] trade in carbon offsets…[though the] European Union wants the scheme to invest tens of billions of dollars annually in developing nations by 2020…[2] Agreement to allow developers to appeal against U.N. panel rejections of CDM projects…[3] No agreement on whether to include carbon capture storage in the CDM…[4] No agreement on including forest preservation in CDM…ON CONSERVING TROPICAL FORESTS…[1] Agrees to ensure indigenous peoples are involved…[2] Asks developing countries to identify drivers of deforestation and to start measuring emissions from destroying trees…[3] No agreement on [funding]…"