Key players seemed set on apparently irreconcilable positions, with many developing countries insisting that Kyoto must continue at all costs, while other countries were equally adamant that they would not get involved in a second commitment period.
The two largest emitters, China and the US, seemed as far apart as ever, while the key cheerleader for the process, the EU, appeared absorbed by its internal financial problems.
The whole UNFCCC process was in danger of becoming an irrelevant sideshow but finally, some 36 hours after the conference was due to end, an agreement was reached.
KPMG was there and together with Yvo de Boer, KPMG’s Special Global Advisor on Climate Change & Sustainability, compiled this commentary on the events, negotiations and decisions of COP17. In the attached publication, we outline the key decisions and what they mean for business.
For more information, please contact Neil Morris