Important negotiating blocs and important countries were able to see the final agreement as at least one of their main priorities, while remaining flexible with other parties to find common ground. The Presidency of the Conference of the Parties (COP) managed to put in place a package that committed everyone to compromise, but not to the point that a country could not approve the final package. The Cancun Agreements establish a procedure for verifying the adequacy of the long-term overall goal (limiting warming below 2 degrees Celsius). The review will be based on the best available scientific evidence, including the next fifth IPCC assessment report, as well as the observed effects of climate change. The review process assesses the overall efforts of the parties. The parties will consider strengthening the overall target, including a target of 1.5oC. The review is expected to begin in 2013 and be completed by 2015. In particular, “the Conference of the Parties (COP) is taking appropriate action on the basis of the review. At the next COP meeting, the scope of the review process will be clarified. (Kelly Levin) The question of the legal form of the agreement has not been resolved in Cancun and will be debated next year in the run-up to Durban. The ad hoc working group on long-term cooperation has been extended by one year and is expected to continue to discuss “legal options for an agreed outcome.” This means that the parties have yet to decide whether to adopt a legally binding agreement complementing the Kyoto Protocol, a comprehensive legally binding agreement for all countries that would replace the Kyoto Protocol, or another option in which the parties cooperate through COP decisions rather than a new treaty.
(Jacob Werksman, director of institutions and governance at WRI, will soon have a position in the legal form.) (g) be implemented in the context of sustainable development and poverty reduction, while responding to climate change; In addition, a standing committee has been established to ensure that the Fund is not empty by helping the COP mobilize financial resources, as well as to measure, report and verify their availability. The Committee will also help to strengthen the coherence of climate finance coordination, both inside and outside the Fund. Although the parties took note of the report of the High-Level Advisory Group on Climate Change Financing, established by the United Nations to explore options for innovative sources of funding, there is still no procedure for responding to their recommendations.