COP16 in Cancún ended recently with agreements signed by all but one of the 194 nations. The UN-sponsored negotiating process moves forward, but at what cost?
The facts about the Cancún accord:
- It calls for deep cuts in carbon emissions worldwide to keep global temperature from rising more than 2 degrees C and preferably no more than 1.5 degrees C.
- The agreement is not legally binding; countries will report on their progress.
- It sets up a Green Climate Fund, administered by equal numbers of people from rich and poor countries. Money from wealthy nations (the CO2 emitters) will be distributed to poor nations to help repair climate change damage and help people adapt to changing climate conditions.
- It adopts REDD, an agreement on Reducing Emissions from Deforestation and Forest Degradation.