1. Summary of COP 15 and Copenhagen Accord Zsuzsanna Ivanyi 10 March, 2010 Szentendre, Hungary

2. www.rec.org Expectations New legally binding global deal to have quantified GHG emission reduction target Strong positives for the developing nations, who are most at risk Most vulnerable countries hoped for agreement: - to limit warming rather 1.5 C than 2 C - how to support adaptation in their countries (with significant funding pledges) - technology transfer - “REDD” deal that would pay forest nations to reduce emissions from deforestation

3. www.rec.org What happened at COP 15? No consensus was achieved Toward the end of COP 15 talks were going in two separate process: - negotiations among 192 parties to UNFCCC continued - select group of 25 world leaders negotiated (behind close doors) resulting in the Copenhagen Accord

4. www.rec.org COPENHAGEN ACCORD (1) Not official outcome of COP 15 COP was neutral, neither approved nor disapproved the CA taking note of its existence CA solved the question of reduction in the simple way: all countries shall report by 31 Jan 2010 their national reduction targets - quantified reduction target by developed count. - NAMAs by developing countries

5. www.rec.org COPENHAGEN ACCORD (2) Have agreed on: 1.Global temperature increase should be below 2C 2. Cooperate to have emission peak ASAP 3. Enhanced action and international cooperation on adaptation 4. Annex I Parties commit to implement quantified targets for 2020 5. Non-Annex I Parties will implement mitigation actions 6. Crucial role of reducing emission from deforestation and forest degradation (REDD) is recognized, incentives are provided to enable to mobilize financial resources from developed countries

6. www.rec.org COPENHAGEN ACCORD (3) 7.Pursue various approaches to enhance cost-effectiveness of, and promote mitigation actions 8.Scaled up, new and additional, predictable and adequate funding and improved access foe developing countries 9. High Level panel will be established to study the alternative sources of finance 10.Copenhagen Green Climate Fund shall be established 11.Establish technology mechanism to accelerate technology transfer 12. Call for an assessment of the implementation of CA to be completed by 2015 including consideration of strengthening the long term goal (temperature increase below 1.5 C)

7. www.rec.org FINANCIAL PLEDGES Collective commitment by developed countries to provide new and additional resources including forestry and investments Approaching USD 30 billion for 2010-2012 Funding for adaptation will be prioritized for the most vulnerable developing countries In the context of mitigation actions USD 100 billion a year by 2020 is mobilized Funding will come from a wide variety of sources. Significant portion should flow through Copenhagen Green Climate Fund

8. www.rec.org COP DECISIONS and continued negotiations in 2010 COP 15 took 12 decisions, KPC(CMP5) took 10 decisions, some of them are: LCA shall continue Discussion on continuation of KP shall continue Revision of CDM guidelines shall continue (CCS) Adaptation Fund under KP shall be reviewed Discussion on review of CB shall continue Calls for a replenishment of GEF

9. www.rec.org Main (subjective) messages Changed structure of the world –geopolitical reshaping National, voluntary actions are strengthened Countries’ freedom and responsibilities are increasing More room for actions for a bottom-up approach on national level Increased stakeholder involvement

10. www.rec.org Thank you for the attention! zivanyi@rec.org