At a press conference In New York, Ban announced the new Advisory Group on Climate Change Financing, to be chaired by Ethiopian Prime Minister Meles Zenawi and UK Prime Minister Gordon Brown saying, "There will be an even balance between developing and developed countries." According to a release, the body's other members, who will be appointed for 10 months and whose names will be announced soon, include heads of State and Government, senior ministers and officials from central banks and experts on finance and development. The Advisory Group will be charged with creating practical proposals to boost both short- and long-term financing for mitigation and adaptation strategies in developing countries. The Group is expected to produce a final report containing recommendations before the next Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) in Mexico this December.
Last week, the UNFCCC announced that by the January 31 deadline specified in the Copenhagen Accord, some of the world's biggest emitters of carbon dioxide -- including the United States and China -- have formally submitted their national targets to cut and limit greenhouse gases by 2020. It said that it had received specific pledges from 55 countries that together account for 78 per cent of global emissions from energy use. The pledges to the Accord are purely voluntary and there are no enforcement provisions for the signing countries. Yvo de Boer, Executive Secretary of the UNFCCC issued a statement saying, "This represents an important invigoration of the UN climate change talks [however,] Greater ambition is required to meet the scale of the challenge. But I see these pledges as clear signals of willingness to move negotiations towards a successful conclusion."
On February 2, the World Resources Institute (WRI) issued a working paper entitled, "Comparability of Annex I Emission Reduction Pledges." [See WIMS 2/3/10]. As negotiated in the Copenhagen Accord provides a mandate for Annex I Parties that choose to associate themselves with the Accord to register their emission reduction pledges by January 31, 2010 [See WIMS 2/1/10]. The WRI analysis indicated that emission reduction pledges "will not be enough to meet even the lower range of emission reductions required for stabilizing concentrations of CO2e at 450 ppm and certainly fall very short of goals to reduce concentrations below that level." WRI has developed an Interactive Chart: Analyzing Comparability of Annex I Emission Reduction Pledges.
Access a release from the UN (click here). Access a statement released by the UN on the Advisory Group (click here). Access a release from the UK Prime Minister (click here). Access the WRI Interactive Chart (click here).