REDD+: The Cancun Results

The results of CP16/CMP6 in Cancún, Mexico, held from November 29 through December 10, 2010, offer a reason to celebrate even though a post-2012 climate deal was not struck and thorny issues will remain unresolved until next year at CP17/CMP7 in Durban, South Africa. Both the UNFCCC as well as the Kyoto Protocol governing bodies adopted comprehensive, new and substantive decisions in Cancún.

Jonathan Pershing, Deputy Special Envoy for Climate Change at the U.S.

From the start of the UN Framework Convention on Climate Change negotiations in Cancun, a global agreement to curb carbon emissions by stopping widespread deforestation was expected to be one of the talks’ main achievements.

Despite not agreeing legally binding commitments to reduce emissions, the Cancun conference does give more momentum to global, regional and local efforts to address climate change. As a result, the creation of incentives, penalties and trading arrangements in various forms in different markets becomes more likely.

The outcome of the conference reinforces our view that businesses should proactively address the business opportunities and risks around climate change to maximise shareholder returns.

How does the new agreement on REDD set the stage for halting the destruction and degradation of forests?