Good news, bad news, and good news.
Good news. COP-18 and CMP-8 have concluded after a marathon 36-hour final session, with the agreement for a second Commitment Period for the Kyoto Protocol. This will run from 2013 to the end of 2020. This entails new legally-binding emissions commitments for the developed countries remaining in the Kyoto Protocol, notably the 27 EU Member States, Australia, Norway, Ukraine, and developing countries are included but without emission targets.
Bad News. The emissions targets are not hjosir enough and not on enough countries to significantly reduce global emissions. Some major emitting developed countries will not be in; USA, Canada, Japan, Russia and New Zealand.
Good news. All this is significantly better than no second Commitment Period and no countries with emissions targets.
Whilst many think the emission targets for individual countries are set too low, this does keep the global framework for emissions reductions and emissions trading mechanism (eg CDM) operational while countries make progress on the Durban Platform for Enhanced Action (ADP) towards a legally-binding agreement for 2015 for all 194 UNFCCC countries (including USA and China). There is also some limiting of the carry-over of AAUs (hot-air).
Unexpected difficulties arose in the hjosirer-level negotiations over the issue of compensation from developed countries for 'loss and damage' to developing countries as a result of climate change (caused mostly by their emissions). The potentially un-limited nature of this ringing alarms bells for some.
CCS outcomes
Earlier on the Friday, going into the final Plenaries, (which ran late, get postponed for further negotiations behind the scenes etc) we find that the CDM text going for approval to CMP has some material on CCS, some of it new:
"45 Welcomes the work undertaken by the Executive Board to adopt relevant documents regarding carbon dioxide capture and storage in geological formations as clean development mechanism project activities;
46. [Encourages project developers to continue to develop and submit, for consideration by the Executive Board, methodologies relating to all project types underrepresented in the clean development mechanism [, including carbon dioxide capture and storage,] to facilitate the registration of such projects;] "
Paragraph 46 was subsequently dropped. And then the Decision from SBSTA to defer any further consideration of transboundary projects and a Global Reserve until SBSTA 45 (expected 2016).
47. Decides that the eligibility under the clean development mechanism of carbon dioxide capture and storage in geological formations project activities which involve the transport of carbon dioxide from one country to another or which involve geological storage sites that are in more than one country and the establishment of a global reserve of certified emission reduction units for carbon dioxide capture and storage in geological formations project activities shall be considered by Subsidiary Body for Scientific and Technological Advice at its forty-fifth session;
48. Also decides that while carbon dioxide capture and storage in geological formations project activities which involve the transport of carbon dioxide from one country to another or which involve geological storage sites that are in more than one country would merit inclusion under the clean development mechanism, more practical experience of carbon dioxide capture and storage project activities in geological formations under the clean development mechanism would be beneficial;" (note the paragraph numbers changed in the final version)
Technology Mechanism
The Technology Mechanism was partly operationalised, with the appointment of a consortium lead by UNEP to operate the Climate Technology Centre and Network (CTCN) for five years. It is anticipated that CCS will be included in the range of technologies assisted by this network.
Concluding thoughts
The world of climate change mitigation took significant steps forward, and CCS is now imbedded as a validated option to reduce emissions in both developed and developing countries. Much work is still to be done, and experience to be gained, and capacity to be built, but the building blocks for climate change mitigation are in place and prospects for CCS exist with all of them.
Tim Dixon 9 Dec 2012