The UNFCCC's 17th Conference of the Parties (COP) is
currently being held in Durban, South Africa (28 November - 9
December 2011). COP 17 follows COP 15 which was held in Copenhagen
in 2009 and COP 16 held in Cancun in 2010. The key agenda topic and
negotiations at these conferences, culminating this year in Durban,
has been a new international agreement to reduce greenhouse gas
emissions. The Kyoto Protocol's commitment period comes to an
end in 2012. Tensions continue to exist between developing
countries and small island states, which have pushed for immediate
resumption of a new agreement, the US as a historically significant
polluter (that has not ratified Kyoto) which argues that a new
agreement is not practicable before 2020, and the European Union,
which has pushed for at least a "road map" toward a new
agreement. A central issue in negotiations over a new agreement has
been the inclusion of newly significant polluters such as India and
Durban also serves as the 7th Meeting of the Parties (CMP) of
the Kyoto Protocol, and the 35th sessions of the Subsidiary Body
for Scientific and Technological Advice and Subsidiary Body for
Implementation. Because of the concurrent sessions, a broad range
of topics are on the agenda relating both to new and existing
commitments of the parties and the way in which reductions may be
actioned and financed. Issues being discussed include targets for
developing countries, finance of mitigation and adaptation
activities, the institutional structure of a Green Climate Fund,
the framework for technology transfer, the use of new and reform of
existing market mechanisms to finance technology and infrastructure
transformations, and reduction of emissions through reduced
degradation and deforestation (REDD).
DLA Piper's Alexander Sarac, a Legal Director in the Energy,
Infrastructure Finance and Commodities team in London is currently
in Durban for the Conference. You can view Alexander's day by
day summary of the Conference's progress and discussion of some
of the issues on the agenda at Durban
here via his video diary.
DLA Piper has global expertise in the area of climate change.
For more information please visit our page on climate
here or contact one of our local offices.
The Australian Government has recently passed legislation that
puts in place mechanisms to allow Australia to reduce its emissions
in line with fixed caps using carbon pricing and an emissions
market. This will assist in Australia's ability to achieve any
future binding international obligations to reduce emissions.
This publication is intended as a general overview and
discussion of the subjects dealt with. It is not intended to be,
and should not used as, a substitute for taking legal advice in any
specific situation. DLA Piper Australia will accept no
responsibility for any actions taken or not taken on the basis of
DLA Piper Australia is part of DLA Piper, a global law firm,
operating through various separate and distinct legal entities. For
further information, please refer to www.dlapiper.com
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This legal update is an overview of existing eligible project activities and new project types proposed to be developed.
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