Climate change corner

COP17 in Durban –improving the old and adding the new…

It was encouraging to see that what is useful under the UNFCCC being improved upon rather than thrown out, while new mechanisms were also set up to further support implementation of a low-carbon future.

The Clean Development Mechanism (CDM) is a good example of an existing mechanism that has been criticised for its shortcomings, but which has managed to achieve the objective of channelling money from developed countries to developing countries, even though some approved CDM projects may not have been appropriate. It is my belief that it is better to improve on the existing mechanism than to toss it out and start over, so the decision to include carbon capture and storage (CCS) in geological formations as CDM-approved activity seems a step in the right direction.

It is good news that all the hard work needed to set up all the processes, systems and rules for the Green Climate Fund was completed, even though it has no funds yet. The next step is to select board members and a country to host the GCF. Maybe Hong Kong should throw in a bid for it…

Somewhere between the old and the new is the evolution of the agreement itself, from “cap-and-trade”to “pledge-and-translate”. “Cap-and-trade”can be used to reduce greenhouse gas emissions if certain conditions exist, such as emissions caps that are substantive and challenging. However, given today’s financial turmoil, moving to “pledge-and-translate”is one way of ensuring some sort of emissions reduction takes place. Although a weaker agreement, this change in mode can still utilise the existing infrastructure set up by the UNFCCC, which is better than starting from scratch.

However, with a weaker agreement, limiting global temperature rise to within 2 deg C is now impossible. The climate will continue to change and only countries/cities that are resilient enough to survive the resulting adversities will come out ahead. At Durban, guidance for national adaptation plans was developed along with the Nairobi work programme on impacts, vulnerability and adaptation, a work programme on loss and damage and a forum on response measures. Being a coastal city prone to typhoons, perhaps Hong Kong should move faster on its climate change adaptation plan...

This article is contributed by Dr Jeanne Ng, director –group environmental affairs of CLP Holdings Ltd, with the co-ordination of the Environmental Division.