The UNFCCC's 17th Conference of the Parties (COP) is currently being held in Durban, South Africa (28 November - 9 December 2011). COP 17 follows COP 15 which was held in Copenhagen in 2009 and COP 16 held in Cancun in 2010. The key agenda topic and negotiations at these conferences, culminating this year in Durban, has been a new international agreement to reduce greenhouse gas emissions. The Kyoto Protocol's commitment period comes to an end in 2012. Tensions continue to exist between developing countries and small island states, which have pushed for immediate resumption of a new agreement, the US as a historically significant polluter (that has not ratified Kyoto) which argues that a new agreement is not practicable before 2020, and the European Union, which has pushed for at least a "road map" toward a new agreement. A central issue in negotiations over a new agreement has been the inclusion of newly significant polluters such as India and China.
Durban also serves as the 7th Meeting of the Parties (CMP) of the Kyoto Protocol, and the 35th sessions of the Subsidiary Body for Scientific and Technological Advice and Subsidiary Body for Implementation. Because of the concurrent sessions, a broad range of topics are on the agenda relating both to new and existing commitments of the parties and the way in which reductions may be actioned and financed. Issues being discussed include targets for developing countries, finance of mitigation and adaptation activities, the institutional structure of a Green Climate Fund, the framework for technology transfer, the use of new and reform of existing market mechanisms to finance technology and infrastructure transformations, and reduction of emissions through reduced degradation and deforestation (REDD).
DLA Piper's Alexander Sarac, a Legal Director in the Energy, Infrastructure Finance and Commodities team in London is currently in Durban for the Conference. You can view Alexander's day by day summary of the Conference's progress and discussion of some of the issues on the agenda at Durban here via his video diary.
DLA Piper has global expertise in the area of climate change. For more information please visit our page on climate here or contact one of our local offices.
The Australian Government has recently passed legislation that puts in place mechanisms to allow Australia to reduce its emissions in line with fixed caps using carbon pricing and an emissions market. This will assist in Australia's ability to achieve any future binding international obligations to reduce emissions.
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