The 20th session of the Conference of the Parties and the 10th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol took place from 1 to 14 December in Lima, Peru.
The whistle has blown on the road to Paris as the COP 20 opened in Lima on December 1. A new pledge from Spain means there is now 9.7 billion USD equivalent promised to capitalise the Green Climate Fund for developing countries. These unprecedented funding pledges added to other recent announcements, including the momentum generated at the UN Climate Summit, the EU 2030 targets and the US/China deal, should provide a positive backdrop to the complex negotiations in Lima. Business needs a text with the elements of a new agreement, a format for countries to provide their national contributions and a fair, defined and robust process to allow tracking against a 2 degree scenario and to encourage further ambition.
WBCSD was very active in Lima ensuring that the voice of progressive business increases the confidence of negotiators. They were partnering with others on a number of key events including the first ‘Energy day’ at a COP, the Caring for Climate business forum, two forward thinking events on carbon pricing and the launch of the new technology roundtables initiative with SDSN and IDDRI.