An evening debate on "Climate Change post-Cancún", organised by CEPS and the International Emissions Trading Association (IETA), attracted an audience of some 150 participants on January 12th. With CEPS Senior Fellow Christian Egenhofer in the chair, speakers Artur Runge-Metzger (Director for International and Climate Strategy, DG Climate Action, European Commission), Helle Juhler-Verdoner (Vice-President, Global Affairs, Alstom Power) and Henry Derwent (CEO & President International Emissions Trading Association) debated the future of climate change policy following the international climate change negotiations in Cancún in December 2010. After a discussion on the 'meaning of Cancún', the debate quickly moved on to the legal and political consequences of the gap in commitments that emerges in the absence of Kyoto-style emissions reductions. The two speakers notably asked about implications for the EU international climate change strategy, and the fallout for bilateral agreements, trading scheme linking, sectoral crediting and sectoral trading and especially whether the EU should now move to a unilateral GHG reduction commitment of 30% by 2020 compared to 1990. The discussion concluded over the question on whether there is any hope for a new international binding climate change agreement on mitigation (targets) involving changes to the status of some developing countries and incorporating the US.
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