UK hails Cancun outcomes

Over 190 countries supported the adoption of a balanced package of decisions at the UN Climate Change Conference in Cancun, Mexico on 11 December. The package, dubbed the “Cancun Agreement”, represents significant progress and sets a path towards a low-emissions future and enhanced action on climate change in the developing world.

The British Foreign Secretary, William Hague said “This is an excellent result, not only for our efforts to tackle climate change which are central to our collective prosperity and security, but also more broadly for restoring confidence in multilateralism. In an interdependent world we can find common solutions to common problems.”

Cancun made real progress on issues important for both developed and developing countries:

Objective: agreed to peak Greenhouse Gas emissions and set a 2 degree target to limit temperature increases

Monitoring, Reporting and Verification: agreed a system so we know how countries are living up to their promises to reduce emissions

Long term-finance: established the Green Climate Fund, which will help developing countries move to low carbon and adapt to climate impacts.

Deforestation: agreed to slow, halt and reverse the destruction of forests.

Technology/Adaptation: set up mechanisms to help developing countries access low carbon technology, and adapt to climate change.

Although there was no global deal that transpired in Cancun, the outcome shows the UN process can work. However moving forward to a truly global and comprehensive agreement will still be challenging. Individual countries cannot tackle climate change on their own, and they need the certainty that other countries will also take action. Only a global legally binding agreement can ensure that all countries deliver the emissions reductions needed to keep temperature increases below 2 degrees, and provide investors with the confidence to invest in low carbon technologies.

Read more on British Foreign Secretary's 'delight' at successful conclusion of Cancún Summit.