Excerpts of draft Copenhagen U.N. climate text
(Reuters) - Following are excerpts of a draft text under consideration by world leaders on Friday as part of a new deal to fight climate change:
"Recognizing the scientific view that the increase in global temperatures ought not to exceed 2 degrees, and on the basis of equity and in the context of sustainable development, parties commit to a vigorous response through immediate and enhanced national action based on strengthened international cooperation."
"Ambitious action to mitigate climate change is needed with developed countries taking the lead.
Parties recognize the critical impact of climate change on countries particularly vulnerable to its adverse effect and stress the need to establish a comprehensive adaptation program including international support.
Deep cuts in global emissions are required."
RICH NATION (ANNEX ONE) TARGETS
"Annex One parties to the Convention commit to implement, individually or jointly, the quantified economy-wide emissions targets for 2020 as listed, yielding in aggregate reductions in greenhouse gas emissions of "X" percent in 2020 compared to 1990 and "Y" percent in 2020 compared to 2005."
DEVELOPING NATIONS (NON ANNEX ONE) GOALS
"Non Annex One parties to the Convention resolve to implement mitigation actions based on their specific national circumstances. Frequency of submissions of non Annex One parties will be every 2 years...subject to their domestic auditing and assessment...Clarification may, upon request, be provided by the party concerned at its discretion to respond to any question contained in a national communication...Supported nationally appropriate mitigation actions shall be subject to international verification."
FUNDS "Scaled up, new and additional, predictable and adequate funding shall be provided by developed country parties.
Parties shall provide new and additional resources of $30 billion for 2010-12.
In the context of meaningful mitigation actions and transparency on implementation, the parties support the goal of mobilizing jointly $100 billion a year to address the climate change needs of developing countries.
This funding will come from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources of finance.
A Copenhagen Climate Fund shall be established as an operating entity."
"The parties call for a review of this decision and implementation in 2016 (Negotiations on a legal text would continue) with a view to adopting one or more legal instruments under the convention as soon as possible and no later than Cop 16 (a meeting due in Mexico in November 2009)"
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