Tagged: Long term finance

Keep up your end of the bargain, Parties

In Durban, Parties agreed to a package – the adoption of a second commitment period of the Kyoto Protocol, a successful conclusion of the LCA, urgent action to close the pre-2020 mitigation gap between the 2 degrees goal and the collective pledges now on the table, and collective movement toward a fair, ambitious and binding agreement in 2015. Parties must honour this political bargain.

Let’s start with the KP. Those trying to get another bite of the negotiation cherry by dragging out submitting their carbon budgets (QELROs) have to understand that this will be perceived as acting in bad faith. Australia – ECO remembers the brinkmanship with your QELRO last time. So for you, as well as New Zealand, Ukraine and others on the fence on the Kyoto second commitment period, ECO demands to see your QELROs up front. And, of course, just any old KP second commitment period won’t suffice. We must have a robust, ratifiable agreement that respects the original intention of the KP to raise ambition and create real environmental integrity. The AOSIS and Africa Group proposals will facilitate this endeavour. Effectively eliminating surplus AAUs and ensuring the environmental integrity of the CDM is also essential – you can’t have your cake and eat it too.
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