Emissions targets
Developing nations’ action on emissions will undergo only domestic measurement, reporting and verification but will be subject to internationally-agreed standards under the UN climate convention. They would then communicate internationally progress on their commitments every two years.
REDD
On deforestation, there should be the “immediate establishment of a mechanism including REDD-plus” to mobilise capital from developed countries for “reducing emissions from deforestation and forest degradation” and enhancing “removals of greenhouse gas emission by forests”.
- To “reduce global emissions so as to hold the increase in global temperature below 2 degrees Celsius, and take action to meet this objective consistent with science and on the basis of equity”.
- To “cooperate in achieving the peaking of global and national emissions as soon as possible, recognizing that the time frame for peaking will be longer in developing countries”.
- Developed countries are to implement individual or joint quantified targets for emissions reduction by 2020, to both 1990 and 2005 base years, and publish them by January 31, 2010.
- Developing nations are to publish their emissions curbing commitments by January 31 2010.
Developing nations’ action on emissions will undergo only domestic measurement, reporting and verification but will be subject to internationally-agreed standards under the UN climate convention. They would then communicate internationally progress on their commitments every two years.
REDD
On deforestation, there should be the “immediate establishment of a mechanism including REDD-plus” to mobilise capital from developed countries for “reducing emissions from deforestation and forest degradation” and enhancing “removals of greenhouse gas emission by forests”.
Financing
- Developed countries are to “support a goal of mobilizing jointly 100 billion dollars a year by 2020 to address the needs of developing countries”. This funding will come from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources of finance.
- There will also be 30 billion dollars made available over the three-year period 2010 to 2012 inclusive, balanced between climate change adaptation and emissions mitigation.
- A new UNFCCC mechanism called the Copenhagen Green Climate Fund will be established to support funded “projects, programmes, policies” on mitigation, REDD-plus, adaptation, capacity building, technology development and transfer.
Technology transfer
A new Technology Mechanism will also be established to further accelerate technology development and transfer under a country-by-country approach.
2015 review
A review of the Copenhagen Accord’s progress must be completed by 2015, and would also consider “strengthening the long-term goal to limit the increase in global average temperature to 1.5 degrees”.
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