12 Dec '11, 4pm

Businesses Hail 'Great Result' at Durban Climate Summit

Businesses Hail 'Great Result' at Durban Climate Summit

Business leaders have broadly welcomed the last-gasp international deal agreed in the early hours of the Durban Summit yesterday morning, which for the first time commits all countries to signing on to a new legally binding climate change treaty. In dramatic scenes, ministers reached an agreement on a new text almost 36 hours after the scheduled close of the two-week summit. The text, known as the Durban Platform for Enhanced Action, will see the EU and a handful of other countries extend the Kyoto Protocol into a second commitment period, allowing for the continuation of emission reduction initiatives enabled by the treaty such as the Clean Development Mechanism (CDM). In return all countries agreed to deliver a new protocol, another legal instrument, or an "agreed outcome with legal force" by 2015 that will then be enacted by 2020. The wording paves the way for large eco...

Full article: http://www.greenbiz.com/news/2011/12/12/businesses-hail-g...

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Businesses hail 'great result' at Durban Summit

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Business leaders have broadly welcomed the last-gasp international deal agreed in the early hours of the Durban Summit yes...

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