CLIMATE-LD DRAFT 2

India and other developing countries have maintained that
they were against any mention of a 'peaking year' for them.
Delegates said the aim was to enable the 120 heads of
state and government gathered here to agree on something as a
takeaway from the conference with specific deliverables.
The text also includes a reference to a short-term fund
of resources amounting to USD 30 billion by developed nations
for the period 2010–12, besides accelerating technology
development and transfer.
On the sensitive issue of Monitoring, Reporting and
Verification (MRV), the draft accord echoes India's stand that
mitigation actions by developing nations will be reflected
through their national communications every two years.
It also says developing countries to implement mitigation
actions based on their specific national circumstances.
Delegates coming out of the closed room meeting indicated
that the Accord was being hotly-debated without many takers.
The indication was that the draft was low on ambition.
Developed country negotiators were saying that the draft
was too light on the developing country commitments.
The draft comes as the negotiators are trying to salvage
the climate summit that has witnessed sharp differences
between the developed nations and the emerging economies.
The draft gains significance as it has emerged out of the
main negotiating texts, which were under debate for the last
two years having run into intractable problems with about a
100 "square brackets". (MORE) PTI