Dec 11, 2011 - 3:00pm
The Climate Institute today described the outcomes from the Durban Climate Conference as real progress with a step towards a legally binding agreement covering all major emitters and increased co-operation in financing clean energy and adaptation in the world’s poorest nations.
“For the first time, all major greenhouse gas emitters will be negotiating as equal partners towards a legal agreement by 2015,” said Erwin Jackson, Deputy CEO of The Climate Institute from Durban, South Africa.
“Never before have all major carbon emitters, including China and the US agreed to have pollution commitments captured by a single legal agreement.”
“Countries agreed to the establishment of the Green Climate Fund and a work plan to unlock billions of dollars of additional investment for clean energy and adaptation in the world’s poorest nations.”
“The Durban agreement also included a commitment to build existing actions and increase the level of ambition all countries are taking.”
“As negotiators finalised the deal in Durban, clean energy recorded its trillionth dollar of investment since Bloomberg records started in 2004. Annual investments in renewable energy now compete with fossil fuel energy sources.”
“Many countries are already taking substantial action. Carbon prices and emissions trading schemes are already legislated and cover around 567 million people. With California and seven Chinese regions starting emissions trading schemes around 900 million people may be covered by 2015.
“However, current commitments risk a temperature rise of around 3-4 degrees. Governments have agreed this will need to be contained to less than 2 degrees if catastrophic and potentially irreversible effects are to be avoided.”
“All countries, including Australia, need to build on their existing domestic actions and increase their commitments to cut carbon pollution.
For further information and interviews:
Erwin Jackson | Deputy CEO, The Climate Institute | 03 9600 4039
John Connor | CEO, The Climate Institute | 02 8239 6299
Giulia Baggio | Communications Director, The Climate Institute | 03 9600 4039