Nations Seal a Deal on Climate Change at UN Talks
Copenhagen, 19 December 2009-After a marathon all night session, talks aimed at injecting new and more wide-ranging momentum into the international effort to combat climate change ended with a positive outcome.
Countries attending the UN climate convention's summit in the Danish capital agreed to 'take note' of a document entitled the Copenhagen Accord.
For the first time in the history of climate change cooperation, developing countries including Brazil, China, India, Indonesia, Mexico, South Africa and the small and threatened Republic of the Maldives outlined intentions to decouple emissions from economic growth.
Developed countries including the United States will also outline a range of emission reductions targets up to 2020 by 1 February 2010. Both commitments and intentions in terms of greenhouse gas reductions will be subject to international monitoring and verification.
Countries accepted to work towards limiting the rise in global temperatures to below 2 degree Celsius above pre-industrial levels. However, emission reduction commitments by 2050 were in the end not included in the final document.
Importantly, the Accord outlines support for technology transfer and capacity building for developing economies while also putting forward a financial package aimed at assisting developing ones adapt to climate change and to begin de-carbonizing their economies.
Additional resources of US$30 billion, covering the period 2010-2012, will be available immediately and developed nations also supported a "goal of mobilizing jointly US$100 billion a year by 2020 to address the needs of developing countries".