Formal Negotiations on Global Climate Regime
The EU welcomed the agreement reached at the UN Climate Change conference in Bali to start formal negotiations on climate regime post-2012 period, besides on ‘Bali Roadmap that sets out an agenda for these negotiations.
The decision explicitly acknowledges the findings of the recent scientific assessment by the UN Intergovernmental Panel on Climate Change (IPCC) and recognizes that deep cuts in global emissions of greenhouse gases will be required to prevent global warming from crossing the limits
It reached several decisions on a number of other issues of particular importance to developing countries. Most notably it finalized governance arrangements for the Kyoto Protocol’s adaptation fund for developing countries, many of which are particularly vulnerable to the impacts of climate change.
An important step was taken towards reducing emissions from deforestations
– the source of around 20% of global CO2 emissions – with an agreement
to launch a framework for demonstration activities. Technology transfer is
a building block of post 2012 agreement