	Overview

The United States and almost 200 other countries are negotiating under the United Nations Framework Convention on Climate Change (UNFCCC) to address climate change cooperatively beyond the year 2012. Parties agreed to complete those negotiations by the 15 th meeting of the Conference of the Parties (COP-15), held December 7-18, 2009, in Copenhagen. Rather than a new treaty containing quantitative, legally binding GHG obligations, many predict the outcome will be a political mandate for pursuit of a later, more inclusive and enforceable agreement. As the Copenhagen meeting opened, the United States had formally offered neither a GHG target nor specific amounts of financial assistance, although on the eve of the conference, the White House announced that President Obama intends to offer a "provisional" GHG target for the United States of 17% below 2005 levels by 2020, ultimately to be brought "in line" with energy and climate legislation, if passed. Congress will decide whether the United States becomes a Party to any agreement. Its objective is " stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system ." Most Parties conclude the objective requires avoiding a 2 o Celsius increase of global mean temperature from pre-industrial values and reducing GHG emissions by 50% by 2050 from 1990 levels. Many argue that the industrialized countries' share should be an 80-95% reduction by 2050 from 1990 levels. The UNFCCC principle of "common but differentiated responsibilities" among Parties permeates debate about obligations of different forms, levels of effort, and verifiability. Despite these facts, most countries argue that the Annex I countries have not fully met their UNFCCC and Kyoto Protocol obligations to reduce GHG emissions and assist developing countries (with the United States especially criticized). The wealthier countries (including the United States) also committed to provide financial and technical assistance to underpin developing countries' efforts to meet their obligations. Deep divisions exist among Parties over four proposals now in the negotiating text:
one or more funds established under the UNFCCC Conference of the Parties (COP), managed by one or more Trustees, with funds generated through levies on international maritime transport and aviation; a share of proceeds from accessing international emissions trading; assessed contributions from Parties; and voluntary contributions from Parties and other donors; OR assessed contributions from Annex I Parties as a percent of Gross National Product; a World Climate Change Fund or Green Fund under the authority and guidance of the UNFCCC COP, administered by an existing financial institution, with funding from assessed contributions from all Parties except the Least Developed Countries (LDCs); a Global Fund for Climate (U.S. proposal) as an operating entity of the (existing) financial mechanism (the World Bank's Global Environment Facility), funded by multiyear, voluntary contributions of all Parties except LDCs; and use of existing financial institutions, such as the Global Environment Facility (GEF), multilateral development banks, etc., with a Facilitative Platform under the authority and Guidance of the COP to register and link needs to support, and to monitor and evaluate the information in the registry. The European Council has concluded that 100 billion euros annually by 2020 will be necessary to help developing countries to mitigate and adapt to climate change. Annex I nations, however, underscore the importance of private sector finance through GHG trading mechanisms and other investments, with public funds as smaller and more targeted shares. The United States participates in the financing deliberations with impaired credibility, being almost $170 million in arrears for its assessed contribution to the Global Environment Facility (the financial mechanism of the UNFCCC and other treaties). The U.S. delegation indicates this would increase availability, capacity, and information exchange related to technology.
The United States and almost 200 other countries are negotiating under the United Nations Framework Convention on Climate Change (UNFCCC) to address climate change cooperatively beyond the year 2012. Parties agreed to complete the negotiations by the 15th meeting of the Conference of the Parties (COP-15) from December 7-18, 2009, in Copenhagen. However, some nations' leaders have indicated that the Copenhagen outcome is likely to be a political agreement providing a mandate for a later legally binding, comprehensive agreement.
The negotiations are intended to decide the next steps toward meeting the objective of the UNFCCC, to stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system. Most Parties conclude the objective requires avoiding a 2oCelsius increase of global mean temperature from pre-industrial values and reducing global greenhouse gas (GHG) emissions by 50% by 2050 from 1990 levels, with industrialized countries' share to be an 80-95% reduction. The UNFCCC principle of common but differentiated responsibilities among Parties permeates debate about obligations of different forms, levels of effort, and verifiability. Key disagreements remain among Parties:
GHG mitigation: Some countries, including the United States, seek GHG actions by all Parties; many developing countries argue that differentiation should exclude them from quantified and verifiable GHG limitations. Many vulnerable countries are alarmed that GHG targets proposed by wealthy countries are inadequate to avoid 2oC of temperature increase and associated serious risks. Adaptation to climate change: Many countries, including the United States, wish to use bilateral and existing international institutions, with incremental financial assistance, targeted at the most vulnerable populations; many developing countries seek a fully financed, systemic, and country-determined effort to avoid damages of climate change, to which they have contributed little. Financial assistance to developing countries: Many wealthy countries, including the United States, propose private sector mechanisms, such as GHG trading, along with investment-friendly economies, as the main sources of financing, with a minor share from public funds; many developing countries argue for predictable flows of unconditioned public monies, with direct access to an international fund under the authority of the Conference of the Parties. Technology: Many countries, including the United States, maintain that private sector mechanisms are most effective at developing and deploying the needed advanced technologies, enabled by balanced trade and intellectual property protection; some countries seek new institutional arrangements and creative mechanisms to share technologies to facilitate more effective technology transfer.
Negotiators face a complex array of proposals. Many delegations, including the United States, approach Copenhagen with unresolved climate agendas at home. President Obama has announced an intention to offer a "provisional" GHG target for the United States in the range of 17% below 2005 levels by 2020, ultimately to be brought "in line" with energy and climate legislation. The U.S. delegation negotiates without clear signals as to what the Congress would support. U.S. influence in the negotiations may also be impaired by having signed but not ratified the Kyoto Protocol, and by being almost $170 million in arrears in contributions to the multilateral Global Environment Facility.