Too little too late
The Bali meet offered the following to developing countries:
Adaptation Fund:
The fund to help developing countries adapt to climate change has been there for two years. But it has not been operational.ing India feel that this is too little. Currently the fund amounts to about US$ 67 million. Participants at the Bali meet agreed to reactivate the fund. Proceeds will be generated by a 2 per cent levy on projects under the Clean Development Mechanism (CDM).
Technology Transfer:
Governments agreed to increase the investment for the transfer of mitigation and adaptation technologies to developing countries. The aim is to push for demonstration projects, create an atmosphere for investment and provide incentives to the private sector for the transfer of technology.
Reducing emissions from deforestation in developing countries:
Countries recognized the need to take action to reduce emissions from deforestation and forest degradation. They adopted a programme to assess changes in forest cover and associated green house gas emissions, methods to demonstrate reductions of emissions from deforestation and the estimation of the amount of emission reductions from deforestation.
The decision supports capacity building. The participating countries committed to undertake efforts to address needs of indigenous communities who depend on forests for livelihoods. Deforestation is regarded as an important component of a post-Kyoto agreement-in both mitigation and adaptation strategies.
Strengthening CDM:
Parties agreed to double the number of small-scale afforestation and reforestation projects. The move aims to reach countries that have been unable to take part in this category of CDM.
Carbon capture and storage was, for the first time, considered for inclusion as a CDM project. This technology is largely untested. So participants at the Bali meet agreed to cooperate on technical, legal, policy and financial aspects.
Besides, a decision was taken to extend the mandate of the least developed countries expert group. A key function of this group is to advise these countries in assessing adaptation needs.
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