Underlining the need to move beyond the procedural controversies of Copenhagen Accord, UN Chief Ban Ki-moon has asked the world to implement the key elements of the document.
Referring to a non-binding document that was drafted on December 18 by a small group of countries including the BASIC nations (China, India, Brazil and South Africa), Ban said, "It is important that we have to follow-up and implement what has been agreed in Copenhagen."
"There are two very important elements which we have to implement," He said.
The first, the head of the UN, noted is to have the financial flow of fast-start fund of $10 billion for the next three years.
"I am intending to establish soon a high level advisory group on it," he said.
The second element is for states to announce their mitigation targets.
"We will continue to have some negotiations, so that we will be able to have a legally binding treaty at the Conference in Mexico," Ban said.
"That is an absolutely important, crucially important, task which we have to fulfil."
Deep divisions at the Copenhagen conference led to a compromise in which states were asked to "associate' themselves with the Accord.
The Copenhagen Accord that was produced by 29 countries, principally drafted by the United States, China, India, Brazil and South Africa, in the last few hours of the Copenhagen Conference.
Key elements of the Accord included a limit 2 degree rise of global temperature, the percentage of mitigations cuts were not given.
A total of $30 billion was pledged from 2010-2012 to help poor countries in the firing line of climate change, and rich nations sketched a target of providing $100 billion annually by 2020.
The document was slammed by certain countries including Bolivia, Venezuela, Nicaragua and Cuba for having left the majority of the nations out of the negotiating process.
Its present status remains dubious as many nations have taken a view that it cannot form the basis of future climate talks.
Its principle drafters have yet to accept the accord.
According to the UN, the Copenhagen Accord has been accepted by nine states Australia, France, Canada, Singapore, Turkey, Papua New Guinea, Serbia, Ghana and the Maldives.
Meanwhile, Bolivia is organising alternative international climate talks in the city of Cochabamba in April.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
