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Cancun Climate Change Conference Update

The latest United Nations Climate Change Conference wrapped up over the weekend and again failed to renew what many commentators state as the ultimate objective; the 1997 Kyoto Protocol. Held in Cancun, Mexico, the conference outcome included the decision toi hold further negotiations next year, as well as the delivery of "the Cancún Agreements", an agreement to create a $100 billion Green Bank through which wealthy nations would help finance climate change mitigation strategies in the developing world, along with an agreement to fight deforestation. The Cancun Climate Change Conference did not labour under the level of scrutiny and media pressure that the Copenhagen talks did; nobody really expected revolutionary outcomes that would change the face of world energy commerce, and the Conference didn’t deliver any. Clean Development Mechanisms have been strengthened to drive more major investments and technology into environmentally sound and sustainable emission reduction projects in the developing world. Renewable energy projects could include rural electrification using solar power panels or the installation of more energy-efficient boilers. Governments also agreed to boost action to curb emissions from deforestation and forest degradation in developing countries with technological and financial support. A Technology Executive Committee and Climate Technology Centre and Network has been established to increase technology cooperation to support action on climate change adaptation and mitigation.
Origin Energy, Australia’s largest electricity utility, says the energy industry has underestimated the onset of disruptive technologies such as solar PV systems and battery storage. In comments...
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