Sunday, December 11, 2011

PoliticsUN: Enviro global: World government of finances and collections approved by most countries, Kyoto extended 5 yrs until new regime kicks-in


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Climate conference 


landmark deal

A U.N. climate conference reached a hard-fought agreement Sunday on a complex and far-reaching program meant to set a new course for the global fight against climate change for the coming decades.

The 194-party conference agreed to start negotiations on a new accord that would put all countries under the same legal regime enforcing commitments to control greenhouse gases. It would take effect by 2020 at the latest.
The deal also set up the bodies that will collect, govern and distribute tens of billions of dollars a year for poor countries. Other documents in the package lay out rules for monitoring and verifying emissions reductions, protecting forests, transferring clean technologies to developing countries and scores of technical issues.

Currently, only industrial countries have legally binding emissions targets under the 1997 Kyoto Protocol. Those commitments expire next year, but they will be extended for another five years under the accord adopted Sunday.
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