Cards on the table

Article by Steven Gray

Last year's climate negotiations in Cancún may have breathed new life into the UN process, but a post-2012 agreement remains out of reach. Steven Gray spells out what's at stake in Durban and what the repercussions are for investors.

After the Copenhagen climate negotiations in 2009 fell short of reaching a post-2012 agreement, the processes of the international climate talks were called into question. At the time, critics stressed the inefficiencies of the UN process and its inability to deliver an agreed outcome. Observers pointed towards other arenas as possible alternatives to the UN Framework Convention on Climate Change (UNFCCC), such as the Major Economies' Forum. The only problem is that all the possible forums have no processes in place to deliver outcomes. An alternative international process would need to be designed, which would be a negotiation in itself and, as UNFCCC negotiators know from past experiences, the battle for control is a barrier for designing effective and efficient processes and institutions...

Read the full article on the Carbon Finance website

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Cards on the table

Last year's climate negotiations in Cancún may have breathed new life into the UN process, but a post-2012 agreement remains out of reach. Steven Gray spells out what's at stake in Durban and what the repercussions are for investors.