Post COP15
The Green Market Oracle
The US Senate’s inability to pass climate change legislation beforeinternational negotiations begin at COP15 does not constitute failure.
Itwould have been preferable to have achieved a final internationalagreement on climate change as soon as possible, but as we now know,this is unlikely to happen by December.
The passage of climatechange legislation in the cornerstone of an international climatechange deal. Although the absence of a binding deal is profoundlydisappointing, the Obama administration has demonstrated its commitmentto reducing emissions.
COP15 can still see the adoption of thebasic architecture for a binding global treaty. The Kyoto Accordrequired ongoing multilateral and bilateral negotiations after thesixth UNFCCC meeting. The process will be extended, as it was in Julyof 2001 prior to the signing of the Kyoto protocol.
We will havean international agreement because the logic driving global cooperationto mitigate and adapt to climate change is irrefutable. Whether inDecember of 2009 or some time in 2010, the goal is to agree on abinding deal that commits all nations to greenhouse gas reductions.
COP15is part of a process for structuring an international climate changeagreement. The meeting in Copenhagen is the fifteenth meeting onClimate Change but it is not the last.
Richard Matthews is a consultant, sustainable investor, writer and owner of The Green Market Oracle, a leading sustainable business blog that covers the convergence of sustainable capitalism and the global environment.The Green Market is one of the most comprehensive resources for information and tools on sustainability. Follow The Green Market's twitter feed and see the Facebook Fan Page.
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