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In the lead up to Cancun climate negotiations, the Bank has used a conference on agriculture and climate as a platform to expand its agricultural activities and link them to its interests in carbon markets, despite new evidence of problems with investment in the sector.
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Bonn, Germany – As the UNFCCC climate talks got under way in Bonn, the two working groups began meetings: the ad hoc working group on long-term co-operative action (AWG-LCA) began with responses to the draft text and ad hoc working group on the Kyoto Protocol (AWG-KP) began to discuss emissions commitments by countries covered by the Kyoto Protocol.
The UN climate talks which ended in Copenhagen on Friday produced no legally-binding agreement on reducing greenhouse gas emissions, but only non-obligatory commitments that were not even ratified by the participating nations. Nevertheless, it is highly likely a global warming pact will be reached before the next climate summit, which will take place in Mexico City next year. The current Kyoto Protocol is set to expire in 2012, and as long as the world does not give up battling global warming, the international community has little choice but to come up with a legally-binding treaty.
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COPENHAGEN (AP)
International carbon emission offsets are likely to continue to be based on the UN’s Clean Development Mechanism (CDM), as the EU’s proposal to replace it with sectoral crediting will not be feasible for years to come, Eva Filzmoser, coordinator at CDM Watch, told EurActiv in an interview.
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There is an urgent need to bring down the rising carbon emissions and switch over from the dirty fossil fuels to clean alternative energy sources. Leaders of the developed and developing nations completely agree over this plan of action but, sadly, the agreement between the two ends there. Both parties agree that they have got to act quickly but none is willing to take the initiative on the economic front of the fight against climate change.
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