A select group of KPMG’s Climate Change and Sustainability professionals from member firms around the globe will attend this year, seven from KPMG in South Africa and a further nine global delegates including Yvo De Boer, one of the world’s leading authorities on climate change and Special Global Advisor on Climate Change & Sustainability at KPMG.
This event is a significant milestone in international climate negotiations leading up to the expiry of the existing agreement in 2012. As president of the meeting, South Africa is a very important stakeholder and has a chance to highlight its achievements to the world. Though COP 16 saw some critical agreements being formalised, Cancun has left critical questions for Durban. COP17 needs to make progress on various elements of a financial and market mechanism.
Firstly, clarity is required on the nature and form of multilateral carbon markets (currently in the form of the CDM mechanism). Secondly, further details should be developed on more innovative approaches to draw green growth into national planning and national strategies, particularly through the governance of the Green Climate Fund. The COP17 Transitional Committee, which Minister Trevor Manuel has been appointed to, will be presenting the design of the Green Climate Fund during the COP17 process. Lastly, in the forestry sector, the details of the design of the REDD+ mechanism needs to be finalised.
Answering these and other critical questions will be valuable to business and government alike going forward.
KPMG’s delegates at COP17 will be sharing outcomes and experiences from the conference every day.