The delegations have not achieved a binding international agreement on climate change during the UN Climate Change Conference in Copenhagen on 7-18 December 2009.
The main blocking issue is the climate financing and burden sharing among developed and developing nations. The negotiations have had some positive results, including the draft Copenhagen Accord, accepted initially by only 25 countries.
More progress was made on the political front, with the USA signing up to a binding target of 17% by 2020 and 80% by 2050, which however was not endorsed by the entire UN community. The draft Copenhagen Accord also contains a collective commitment by developed countries to provide 30 billion USD by 2012 to developing countries and envisaged further increase in the future in the context of meaningful mitigation actions and transparency on implementation. To operate these funds, the Copenhagen Green Climate fund will be established.
The Accord also calls for the establishment of a Technology Mechanism to enhance R&D and technology transfer, and a call to complete the Copenhagen Accord and its Annexes on concrete commitments by each country by 2015.
Updates on the state of play of the negotiations and the upcoming COP16 in Mexico are available here.