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Legal Aspects of Carbon TradingKyoto, Copenhagen, and beyond$
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David Freestone and Charlotte Streck

Print publication date: 2009

Print ISBN-13: 9780199565931

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199565931.001.0001

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What Might a Future Global Climate Change Deal Look Like?

What Might a Future Global Climate Change Deal Look Like?

(p.537) 24 What Might a Future Global Climate Change Deal Look Like?
Legal Aspects of Carbon Trading

Murray Ward

Oxford University Press

In 2009, global leaders are expected to come together and agree a new multilateral framework to protect the world's climate system. Under the United Nations Framework Convention on Climate Change (UNFCCC), negotiations have been underway for some years already on an update and enhancement of the Kyoto Protocol. Its first commitment period, under which most developed countries have taken on binding emissions limitation and reduction targets, ends in 2012. The current negotiations are framed by the ‘Bali Action Plan’ agreed at the 13th session of the UNFCCC Conference of the Parties (COP13) meeting in December 2007. This set in place a two-year process expected to result in a global agreement at COP15 in Copenhagen in December 2009. This chapter sets out ideas for what the architecture of a global deal might look like. It describes a concept involving enhanced commitments to constrain emissions in a quantitative and legal manner, as well as a broad set of other elements that are expected to be needed to bring a package together that can win the support of all countries.

Keywords:   United Nations Framework Convention on Climate Change, Kyoto Protocol, Bali Action Plan, global climate change plan, emissions reduction

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