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The long path toward a new international climate agreement replacing the Kyoto Protocol’s commitment after 2012, is in a crucial phase of negotiations.

In 2007, the Bali Road Map set the deadline for the conclusion of these negotiations at the 15th UNFCCC Conference of the Parties (COP-15) in Copenhagen from 7-18th December 2009. However, due to divergences among countries, the outcome of the Conference was a political agreement that did not specify an overall emission target but recognized some basic principles: the Copenhagen Accord. Despite the weakness of its legal character (the COP 15 did not adopt the Copenhagen Accord but only “took note of it”), the Copenhagen Accord however represented a starting point since it defined voluntary emissions pledges and the financial aids from the developed to the developing world.

With this premises, countries participating at the 16th Conference of the Parties (COP-16) in Cancún, Mexico (29 November - 10 December 2010), worked to fix steps forward and make operative the principles that were already on the paper. Indeed, the Conference approved the Cancún Agreements, a package of decisions which includes the progress achieved in several key areas during the last year of negotiations. Despite Bolivia’s objections, the Conference adopted the texts, bringing the talks back within the UNFCCC process.

The sections below summarize the main elements included in the Cancún Agreements.

	Mitigation Mitigation commitments and actions could be expressed both as the economy wide targets and developed or developing country nationally appropriate measures. >> more		Adaptation Adaptation actions include changes in processes, practices or structures to moderate or offset the potential damages of climate change. >> more
	Finance Both developed and developing countries stressed the importance of finance for the Copenhagen agreement. >> more		Technology The main issue with technology is how to transfer mitigation and adaptation technologies to developing countries. >> more
	Carbon market and flexible mechanisms The carbon market is a key player in attracting both private and public investments having the potential to move huge financial flows to developing countries for mitigation and adaptation. >> more		Legal outcome The debate on further commitments also involves the future legal outcome of the new agreement. The Bali Action Plan calls for an agreed outcome, but leaves the legal form open. >> more

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