| Opinions about the agreement reached during COP 17, the Durban Platform for Enhanced Action, are divided. Against the backdrop of the worst-case scenario, the Durban negotiations may cautiously be hailed a success. However, measured against the action required to keep global temperatures within a rise of 2 degrees Celsius, the agreement reached in Durban fell short of the mark.
So what happened? Most notably, rich and poor countries alike agreed to negotiate a climate treaty by 2015, to come into effect by 2020. Key players, including India, Brazil and China , agreed to this new deal on the terms that it not be ‘legally binding’ but rather “a protocol, another legal instrument or an agreed outcome with ‘legal force‘.” In addition, the Kyoto Protocol was spared, thanks to the EU who has agreed to a second commitment period until either 2017 or 2020. Other major outcomes include the agreement on the format and governing principles of the Green Climate Fund and inclusion of carbon capture and storage projects within the Clean Development Mechanism. For detailed analysis on COP 17 and the final agreement check out the World Resources Institute’s summary of events. For a lively eye-witness account of events as they unfolded in Durban visit the CCBF blog. Pundits will wrangle over the implications of the deal reached in Durban for many weeks and months to come. But one thing is clear: in the absence of immediate global action on climate change it’s more important now than ever that national and local governments, companies and individuals lead the way. CCBF Chair Thomas Ho echoed this sentiment in a recent SCMP op ed. To learn about what actions local businesses, like Swire Pacific and CLP, are taking to drive forward a low-carbon economy visit the CCBF eventspage and click on presentations given at our recent event: “Countdown to COP 17: What’s next for the climate change agenda?” |
| Hong Kong and Guangdong Join Forces to Combat Climate Change | |
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Regional cooperation may hold the key to Hong Kong’s low-carbon future, and open new doors for business. In late August, the Hong Kong Government announced the establishment of the Hong Kong-Guangdong Liaison Group on Combating Climate Change under the Hong Kong-Guangdong Co-operation Joint Conference. Jointly led by the Hong Kong Environment Bureau and the Development and Reform Commission of Guangdong Province, the Liaison Group will focus on reducing GHG emissions and development of a low-carbon economy. They plan to do this through promotion and support of:
The group will regularly update and report to the Hong Kong-Guangdong Co-operation Joint Conference. This focused and collaborative effort on climate change has the potential to drive forward strategic thinking and local action on low-carbon policies and investments. It could provide a well needed boost to Hong Kong’s green economy. CCBF’s Government Liaison committee is encouraged by this development and looks forward to working with the Environment Bureau as they evolve their strategy. |
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