“For us a balanced package in Durban includes 2 main elements.
- To carry out the agreements reached in last years Cancun talks – including undertakings by all major emitters.
- Continue work on the GCF.”
Second set of issues is about Kyoto.
· And there will be a lot of work on this in the week to come.
- · US domestic commitments.
o Are mostly being undertaken through discrete action by relevant bodies. The EPA, for example, has tightened fuel economy requirements for the transport sector and is working in regulations for stationary sources.
- · Binding agreements.
o The US is happy to enter into a binding agreement if all major emitters are in with obligations of the same legal force. They don’t want the same targets to be applied, just that the agreement has the same legal force.
- · GCF framework.
o The US fully supports this move and has contributed about $5 bn to the fast start finance.
o The role of the COP with respect to the fund:
- Under the convention the financial mechanism works so this kind of fund operates under the guidance but not the authority of the COP.
- “Although I love climate negotiators and spend a lot of my time with then, they may not be the most qualified people to administer a multibillion dollar fund”
- · China.
o The US and China see eye to eye on a lot of things and have a good working (and personal) relationship on this issue and will be meeting tomorrow.
o “China is in the game” with the 40 – 45% reduction of emissions intensity target.
- · KP.
o Only covered about 28% of emissions and with Russian, Canada and Japan not entering into a second CP, it will only cover about 15%
o Cancun commitments cover about 85% of emissions and these are serious commitments made under the convention.
o There is an excess focus on KP and the be all and end all but legally binding is a means to an end. It may or may not be the best means to the end but remember that it’s the end that matters.
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