Relevant

20 Dec 2010:  After two weeks of meetings and negotiations, delegates to the United Nations Climate Conference meeting in Cancun reached modest agreement on global climate policies. The major issues of extension or replacement of the Kyoto Protocol and specific industrialized national responsibilities were not addressed. Nevertheless, participants at the conference hailed the "Cancun Agreements" as validation of the UN process and a mandate to continue, including next year's scheduled meeting at Durban, South Africa.  Read an optimistic article here.

The key items of agreement include:

1. Negotiations on greenhouse gas (GHG) emissions levels will continue under the Kyoto protocol during 2011.
2. The parties recommitted to GHG reductions in efforts to limit the increase in global temperatures to a maximum of 2 degrees Celcius. Industrialized nations will agree to reduce emissions 25 to 40% below 1990 levels by 2020.
3. A Green Climate Fund will be created to distribute funding to developing nations for climate change mitigation and adaptation efforts. Developed nations will provide $30 billion by 2010, rising to $100 billion per year by 2020. The fund will be controlled equally by developed and developing countries.
4. Establishment of a framework for global reduction of emissions from deforestation and degradation (REDD).
5. Creation of a Technology Mechanism to transfer "low-carbon" technologies.
6. Establishment of a monitoring, reporting, and verification (MRV) framework to track GHG emissions.