There have been clear signals at COP 17 in Durban that the Kyoto Protocol will not continue under its current guise. However, according to International Lawyers Norton Rose, there is a clear desire by many of the attendees for a new agreement to be outlined.
On recent reports that some nations were planning to withdraw, Lisa De Marco (pictured) a partner at Macleod Dixon, which is soon to join Norton Rose, told ELN: “The current (Kyoto) agreement is flawed- it doesn’t include all emitters, so many countries don’t think the targets can be met.”
Canada is reportedly the country furthest from meeting its commitment to cut carbon emissions under the Kyoto Protocol, may save as much as $6.7 billion by leaving the global climate change agreement.
Ms De Marco added: “What is interesting is that the group of BASIC countries (Brazil, South Africa, India and China) is for the first time registering its voice which signals potential for future co-operation.”
Energy has been underpinning much of the talks with the Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Christina Figueres telling nations to encourage their respective private sectors to accelerate growth.