The Copenhagen summit has been held as a failure but, whilst the hope that a legally binding agreement would be reached was not achieved, important progress was made. Dec 2009. The agreed ‘Accord’ included:
- Recognition that climate change is one of the greatest challenges of the present day and that action should be taken to keep the temperature increase to below 2 deg C.
- Larger pledges of financial support for developing nations
- Developed countries commit to goal of $100b a year by 2020 to address needs of developing countries.
- Recognition that reducing deforestation and increasing forestation are crucial to reducing climate change and that finances to bring this about are required.
- Developed countries to commit to emissions targets for 2020 by 31 Jan 2010.
- Developing counties to commit to mitigation action by the same date
- Establishment of a Green Climate Fund
The Accord has now been supported by over 100 countries which together produce 80% of global emissions. 70 counties have submitted emission reduction targets which, if implemented, will see emissions peak at around 2020. Analysis shows that this will keep the global temerature incease to 4.2 deg C. Clearly further progress needs to be made.