Eco’s «Compromise» Decision for Warsaw*
*By compromise, ECO mean somewhere in between what is scientifically needed and what YOU tell us is currently feasible.
The Conference of the Parties,
Recalling Article 4, paragraphs 1, 3, 4 and 5 and 7 of the Convention,
Reaffirming the unwavering commitment of parties to keep global average temperature increase well below 2 degrees C above pre-industrial levels and the continuum approach between mitigation, adaptation, loss & damage and finance that is required to ensure equity before 2020.
Reaffirming the urgency to address the current imbalance in mitigation and adaptation finance – in light of recent studies showing the adaptation and loss and damage costs in developing countries will very likely be well in excess of US$100 billion per year by 2020.
Reaffirming the need to raise mitigation ambition levels between now and 2020, and achieving emission reductions on the order of 8-13 Gigatonnes of emissions in the pre-2020 period, beyond existing commitments and actions registered under the UNFCCC.
Supporting the authoritative assessments demonstrating that staying well below 2°C will require several hundred billion of incremental finance per year and the shifting of trillions of dollars of existing private sector investments into low carbon technologies and solutions.
Emphasising that the commitment by developing countries to provide $100 billion for developing countries will be delivered in the form of new and additional public finance, through budgetary allocations from developed countries, supplemented by revenues from alternative sources of public finance
Emphasising the shortcomings of the main revenue stream for the Adaptation Fund in relation to the expected low price of CERs under the Clean Development Mechanism and the need for new and additional commitments by developed countries.
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