einstitute.worldbank.org Keeping Hope Alive: What did Doha Deliver? January 16, 2013 | 10:00 AM EST Speaker: Xueman Wang Team Leader, Partnership for Market Readiness World Bank

Doha Gateway: A Gateway to Global Action o Keeps the Kyoto Protocol alive  Launches a new commitment period  Reviews the commitment in 2014 o Streamlines the pathway to a global agreement on climate change  Closes a negotiating track launched in Bali 2007  Establishes a timetable and milestone for 2015 Agreement  Continues the efforts to raise the level of ambition to close the mitigation gap o Consolidates the architecture for implementation  Transparency for implementation (“MRV”)  Adaptation  REDD+  New approaches to market instruments  Finance  Technology 2

Kyoto Protocol: Doha Amendment o Second Commitment Period until 2020  But the mitigation targets only cover 15% of global emissions  Canada has withdrawn from the Protocol;  Japan, Russia and New Zealand will not join the second commitment period o Use of the Kyoto Mechanisms (e.g.CDM, JI)  Countries that will not join the second commitment period will not be able to use the CDM/JI o Carry over “AAUs” – “hot air” from the first to the second commitment period  Rules related to accounting AAUs will be further developed;  A group of developed countries have declared that they will not purchase AAUs during the second commitment period 3

Durban Platform: A New Round of Negotiation: Defining a future climate regime o Raises the level of ambition (before 2020)  Seeks additional action to close the mitigation gap o A process to prepare for adoption of a global climate agreement in 2015  Workshops to build common understanding  Producing a negotiating text by 2014  A summit convened by the UN Secretary General in

Implementation Architecture: Finance Finance  Long term financing: Pathway from Fast Start Financing to reaching US$100bn by 2020 $8.5bn in new financing pledged (UK, Germany, France, Denmark, Sweden and EU Commission)  Green Climate Fund: Institution: Confirming Songdo, South Korea, to host GCF Relationship between the GCF Board and the Conference of the Parties Private Sector Facility 5

New Approaches to Market Instruments Key issues: -How to ensure credibility and transparency (“e.g. real emission reductions”) -How to avoid “bureaucracy”? -What is relationship with the UNFCCC CoP?

Loss and Damage o Addressing loss and damage in poor and vulnerable countries as a result of climate change  Assessing impact  Possible institutional mechanisms 7

Thank You! 8