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23.4. COP 15 COPENHAGEN SUMMIT:

A legally binding agreement could not be arrived n CoP 15, Copenhagen mainly due to discord between developing and developed nations.

The summit concluded with the CoP taking a note of Copenhagen Accord ( a five nation accord- BASIC and US).

The Copenhagen Accord is a non-binding agreement.


The Accord states that deep international emissions cuts are needed to hold the increase in global temperature to under two degrees Celsius.

Under the Accord, developed countries agree to set targets for reductions in their greenhouse gas emissions by 2020.

Developing countries agree to pursue nationally appropriate mitigation strategies to slow the growth of their emissions, but are not committed to reducing their carbon output.

Recognizes the need to establish a mechanism (including REDD-plus) to enable the mobilization of financial resources from developed countries to help achieve this

Developing countries, specially these with low-emitting economies should be provided incentives to continue to develop on a low-emission pathway

Agrees that developed countries would raise funds of $30 billion from 2010-2012 of new and additional resources

Agrees a “goal” for the world to raise $100 billion per year by 2020. New multilateral funding for adaptation will be delivered, with a governance structure.