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Delegates intensified their efforts today to maximise progress before the arrival of Ministers for the high level segment of the UN climate conference in Bali. Technology transfer and emissions reduction targets were both among key discussions of the day.
Technology has been a key discussion point over the past week with environmentally sound technologies central to helping developing countries “leapfrog the carbon intensive stage of economic development”, according to Yvo de Boer, Executive Secretary of the UN Framework Convention on Climate Change. Central to discussions today included performance indicators for monitoring and evaluating technology transfer activities and how to speed up technology cooperation between developed and developing countries and between developing countries themselves.
As business will be responsible for around 86 per cent of project investments in 2030, the private sector will be key to a low carbon future. The call at the start of the conference from business leaders for a legally binding framework to tackle climate change and appropriate government policies to create the right conditions for private investors was once again re-emphasised. Such policies could include binding targets, tax incentives and policies to promote the shift to less carbon intensive energy sources.
Meanwhile discussions to agree emission reduction targets between 25-40 per cent by 2020 continued to meet disagreements and opposition, in particular from the US who argued that the 25-40 per cent range was based on many uncertainties. Other countries, including Japan also oppose the goals amid concerns that economic growth would be stifled with such stiff targets.
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