This week, the meeting of the Parties to the UN Framework Convention on Climate Change (UNFCCC) meeting in Bonn since the beginning of last week ended without major decisions being taken regarding the shape of a follow-up to the Kyoto Protocol (KP).

Although delegates confirmed that progress was made on technical texts, the debate regarding the possibility of a second commitment period of the KP was inconclusive. The debate on the future of the Protocol addressed also the issue of the Clean Development Mechanisms, whose market volume shrunk compared to previous years. The parties did not reach an agreement on whether HFCF and Carbon Capture and Storage credits should be eligible to produce credits under the mechanism, or whether to allow for auditors a greater margin for
error when verifying emission reductions. Several other mechanisms were discussed following the proposals brought forward by parties, but no agreement on a shortlist was reached. The heat was on the European Union, whose commitment regarding climate change has turned it into a key player in the post-2012 debate. The pressure from developing countries to the EU to unilaterally sign a second commitment period to the KP, was met with resistance by Connie Hedegaard, EU Climate Commissioner, who commented that despite its efforts the EU represents a minor share of global emissions and that other major emitters should be pressured and involved in climate negotiations.

A notable decision taken during this round of talks regarding the financing of the UN climate office, whose original request for $51.3 million to be spent between January 2012 and 2014 has been cut by 3 percent in light of the recent economic difficulties due to the crisis. Before the next Conference of Parties in Durban, South Africa, the parties will meet again in July and October.

Climate Policy News

• This news is extracted from the Climate Policy News : a CMCC weekly column that summarises the latest news on international climate change agreements, the updates on the carbon market and the energy and technology updates in the realm of climate change. Go to the web page and see all previous issues since March 2007.
• This week: EU transport ministers slow down on emission reductions; Bonn talks end without major results; Brazil: land protection makes economic sense; the carbon market this week – Download the June 13-19, 2011 Newsletter [pdf 133 kb]