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2009 Copenhagen Climate Conference: Progress and Challenges in Global Emission Reduction

The 2009 Copenhagen Conference aimed to forge a new legally binding climate agreement as the Kyoto Protocol was set to expire in 2012. Key discussions focused on ambitious emission reduction targets for developed nations and mitigation actions for developing countries. Major emitters like China, the US, and Brazil announced their commitments, despite the non-binding nature of the Copenhagen Accord. The agreement acknowledged the urgency of climate change and sought to limit temperature rises to below 2°C but faced criticism for lacking enforceable commitments.

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2009 Copenhagen Climate Conference: Progress and Challenges in Global Emission Reduction

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  1. 2009 Copenhagen Mission • The existing legally binding agreement (the Kyoto Protocol) which governs carbon emissions expires in 2012 • Work on a new agreement to clarify four key issues around climate change: • Ambitious emission reduction targets for developed countries; • Nationally appropriate mitigation actions of developing countries; • Scaling up financial and technological support for both adaptation and mitigation; • An effective institutional framework with governance structures that address the needs of developing countries.

  2. Accomplishment: Top 4 CO2 Emitters Announcements • China - Nov 26 • Cut CO2 emission intensity (CO2 per GDP) by 40%-45% from 2005 level • US Nov 25 • Cut GHG emissions ~17% below 2005 levels by 2020 • Dec 18 - EPA ruled on CO2 and other GHG as a toxic gas -The ruling allows regulation of planet-warming gases without legislation in Congress to regulate emissions from vehicle, power utilities and heavy industry under existing laws. • Indonisia - Nov 29, 2009 • A pulp and paper giant announced plan to create a ring of tree plantation around the Kampar peninsula’s core to preserve it to reduce annual carbon emission by 5%. • Brazil - Early Nov • Non-binding agreement aims to achieve a reduction of at least 36% on its carbon emissions by the year 2020 to near 1994 level

  3. 2009 Copenhagen Accord • The Copenhagen Accord was drafted by the US, China, India, Brazil and South Africa on December 18, and judged a "meaningful agreement" by the United States government. • It was "taken note of", but not "adopted", in a debate of all the participating countries the next day, and it was not passed unanimously. • The document recognized that climate change is one of the greatest challenges of the present day and that actions should be taken to keep any temperature increases to below 2°C. • The document does not contain any legally binding commitments for reducing CO2 emissions. • Many countries and non-governmental organizations were opposed to this agreement.

  4. References • http://unfccc.int/files/meetings/cop_15/application/pdf/overview_schedule_cop15.pdf • http://en.wikipedia.org/wiki/2009_United_Nations_Climate_Change_Conference • http://www.biochar-international.org/copenhagen • http://www.actoncopenhagen.decc.gov.uk/en/media-centre/negotiations/ • http://www.guardian.co.uk/environment/2009/dec/08/copenhagen-climate-summit-disarray-danish-text • http://www.actoncopenhagen.decc.gov.uk/en/ambition/achievements/december/8-dec-us-ruling-on-c02/ • http://www.carbonfund.org/blog/copenhagen/copenhagen-update-dec-9-2009/ • http://www.flickr.com/photos/powless/4181556761/ • http://www.reuters.com/article/idUSTRE5AP11H20091126

  5. Who are the VC’s Most active • NEA • CMEA • Khosla Ventures • Kleiner Perkins, • NGEN Partners • DFJ • Foundation Capital • Quercus Trust • Others • Google Ventures, • Foundation Capital • Northgate Capital • Argonaut Private Equity • Exxon • Sequoia Capital • Foundation Capital • Fjord Capital • Mesirow Capital • Funding trends: • Middle stage rounds saw difficulty for less-than-profitable companies • Increase in early stage (>110 deals) series A and seed rounds

  6. 2009 VC Funding • 2009 VC investment in green technologies totaled $4.85B, down from 2008’s $7.6B, in 356 deals, down from 2008’s $7.6B • Solar power Is leading at $1.4B in 84 deals, followed by biofuels at $976M in 44 rounds. • Silver Spring Network - $100M • Solyndra - $198M • Tesla Motors - $82.5M • Suniva $75M C round • Serious Materials - $60M Greentech Media Inc.

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