8/7/2019 1. Copenhagen Accord

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The Copenhagen AccordPreparing the post-Kyoto environment

Vlad MaziluESG Analyst

At December 18th 2009, in Denmark, during the United Nations Climate Change Conference(UNCCC), the Copenhagen Accord was signed by United States, China, India, Brazil and SouthAfrica, in the attempt to reach an agreement that would set a common ground for the continuationof the Kyoto Protocol on climate change.

The twelve point statement speaks of the necessity of continuation with the Kyoto Protocol(which has 2012 targets), underlining the need for political will in combating climate change andendorsing a low-emission development strategy.

The Accord admits that the global temperature increase should not go beyond 2 degreesCelsius by 2020, pointing out that an adaptation programme may be drawn up with that end in view.

Also, the signatories recognised the role of the developed countries in supporting financiallythe least developed countries, in an effort of adapting global policies regarding the environment tothe different context of each country. Incentives may be established for the developing countries tostick to their low emissions in the future as well.

According to this agreement, the developed countries should set 2020 emissions targets andimplement mitigation actions in order to slow growth in their carbon emissions, while lessdeveloped countries should take actions without target pressure and with international aid,reporting these actions to the U.N. climate change secretariat every two years.

The role of reducing emissions linked to deforestation and forest degradation is consideredcrucial, the developed countries being invited to set up financial instruments in pursue of that aim.

The Copenhagen Green Climate Fund was created, in order to support all developingcountries activities related to carbon emissions reduction. And an informal goal of raising USD 100billion per year (by 2020) was set, to help in the development of such activities.

This agreement represents an important step forward, giving reasons to hope that theprotocol following Kyoto will establish higher standards for environment protection and reduction ofgreen house gases emissions.

However, several analysts have pointed out that, because this Accord is not legally biding,many countries may eschew from taking action according to it. Furthermore, on one hand, no actualtargets were set for emissions reductions, and on the other hand, the raising of USD 100 billion peryear as aiding funds is found to be highly improbable.

The fact is that by February 1st, fifty-five nations had attached formal emissions targets to theCopenhagen Accord, representing 78% of global emissions of greenhouse gases. And these aredefinitely promising figures.

Evidently, what the world needs is that these steps outlined by the 2009 Copenhagen Accordwould be followed by further policies and actions worldwide. And to a large extent, everyoneshould recognise and assume his/her role in achieving this goal.

Lets not forget that everyone, as an individual part of modern society, is somehowcontributing to the degradation of our living environment. Alternative ways of life are there, withinour reach. All it takes is a responsible commitment from all of us. Right now. While its not too late.