Durban, December 8: The latest version of the draft text on the Clean Development Mechanism (CDM) is out.
Durban, December 7: Transcript of the US press briefing by Todd Stern, Durban, December 7, 2011
Todd Stern: Negotiations are continuing...Both Kyoto and what happens in the future, questions and the issues relating to implementation of Cancun Agreement... Let me take your questions.
The climate talk at Durban is heading for a stalemate. I do not see any major breakthrough other than some sort of “Durban declaration / mandate” to take the negotiation process forward. We might also have some decision on Green Climate Fund and its architecture, which the host South Africa and the African Union is pushing for.
The discussion on the latest draft decision text and language has been thrown open, for Tuvalu has made a strong and determined representation against the use of new market mechanisms as instruments of climate mitigation in the climate treaty of the future.
We are scanning the document. More on it later.
Durban, December 7: It is a humdinger. At 138 pages of bracketed text, and paragraph shifts, this exemplar of sharp and concise decision-making is longer than the one the Chair circulated on Saturday, December 3, 2011.
Let’s look at an immediately notable ‘change’ between the two drafts, for now only in the text related to ‘A shared vision for long-term cooperative action’.
Durban, December 7: Today, Wedsensday 7 December, 2011, the high-level segment will discuss the Green Climate Fund (GCF). Ministers will put their wise heads together and decide the fate of the GCF, which has had quite a stormy year since its inception at the Cancun CoP in 2010. Their goal is to create what is called a ‘cover decision’ that adopts the governing instrument and puts in place an interim arrangement until the GCF is finally operational.
Agenda item 3.2.5: Various approaches, including opportunities for using markets, to enhance the cost-effectiveness of, and to promote, mitigation actions, bearing in mind different circumstances of developed and developing countries