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Wednesday, 01 December 2010

EU warns climate talks risk irrelevance as Cancún opens

The UN climate change process "risks losing momentum and relevance" if the new round of negotiations that opened in Cancún yesterday (29 November) fails to make progress towards a new climate treaty, the EU's climate action commissioner has warned. Some of the issues that could be agreed in back-room negotiations in the Mexican town include rules on monitoring, reporting and verification (MRV) of emission reductions, key elements of a programme reducing emissions from deforestation and forest degradation (REDD+) and mechanisms to transfer technology to developing countries. Much, however, will depend on funding to help developing countries deal with climate change. The EU will try to break the deadlock between rich and poor countries by presenting its fast-start finance report at the talks, showing that in 2010, it mobilised €2.2bn from the total of €7.2bn it said it would deliver over the next three years. It is hoping other developed countries will follow its lead.The negotiating parties could also agree on key principles governing the future Green Fund that is to support developing countries in cutting their emissions and adapting to the inevitable consequences of climate change. Cancún could also start the process of setting up the fund. The EU's to-do list also includes reforming the Clean Development Mechanism (CDM), which allows industrialised countries to meet a proportion of their targets by funding projects to reduce emissions in developing countries. It would like to improve its efficiency and environmental credentials, and scale up UN carbon market mechanisms to include entire sectors in advanced developing countries.

Source: Euractiv