Tiempo Climate Newswatch

"Everything I see tells me that there is a deal to be done [at the Cancún climate summit]," Christiana Figueres, executive secretary of the United Nations Framework Convention on Climate Change, said last week. While not underestimating the political gaps that remain to be bridged, she considers that agreement can be reached in four important areas: measures to cope with climate change, technology transfer, forests and long-term climate financing for developing countries. "I don't hear any party saying that there would be a possibility to only pick out some of the components and move those forward," she said. "What I hear from the parties is the need for a balanced package."

What might emerge from Cancún is a set of interlocking agreements. "Countries have actually learned for themselves... that there is no such thing as one all-encompassing solution," Figueres said. "They also seem to be setting out to develop the building blocks upon which they can build realistic action on the ground, because countries really need results on the ground right now. And I don't see them veering away from that in any sudden way." The summit runs from November 29th to December 10th.

Kenya plans to open Africa's first continent-wide climate exchange platform, the Nairobi Climate Exchange, next year, enabling all African nations to sell carbon credits. "Kenya is better placed to emerge as a regional carbon emission trading hub," said treasury permanent secretary Joseph Kinyua. "We have started a process of establishing a carbon emission trading scheme in Nairobi to pioneer the carbon market in Africa."

According to the Kenyan government, there has been a high degree of interest from foreign banks wanting to partner in trading carbon credits. "We have been flooded with inquiries from financial institutions like HSBC Bank and JPMorgan, but we cannot engage them now until we have set rules and regulations," commented economic secretary Geoffrey Mwau. It is hoped that the exchange will stimulate investment in renewable energy and forest projects.

Fifteen countries, meeting at the Tarawa Climate Change Conference in Kiribati, have signed the Ambo Declaration, which calls for decisions on an "urgent package" for concrete and immediate implementation to be agreed to at the Cancún climate summit to assist those in most vulnerable states on the frontline to respond to the challenges posed by the climate crisis. The aim of the meeting was to hold a consultative forum between vulnerable states and their partners, creating an enabling environment for multi-party negotiations under the auspices of the climate treaty.

Colonel Samuela Saumatua, Fijian environment minister, said that the location of the meeting was ideal for dialogue. "The spirit of discussion was very helpful, very Pacific," he said. "It's a far cry from Copenhagen, and here people suggested things, instead of saying you can't have that, they said it may be better to look at it this way. So that's the spirit of things." The Declaration was signed by Australia, Brazil, Canada, China, Cuba, Fiji, Japan, Kiribati, Maldives, Marshall Islands, New Zealand, Solomon Islands and Tonga. Kiribati president Anote Tong reported that he was disappointed that the United States and the United Kingdom opted out of the declaration by taking up observer status.