New Delhi, Nov 8 (ANI): The Technology Ministerial Meeting on 'Climate Change-Technology Mechanism' begins here on Tuesday.
Over 50 nations are participating in this two-day meeting, where they will carry forward the discussions on operationalzing the mandate of Bali Action Plan, which has been carried out under the Adhoc Working Group on Long Term Cooperative Action (AWG-LCA) of the UNFCCC.
The Bali Action Plan has also provided mandates for enhanced action to support mitigation and adaptation activities.
A draft text on technology development and transfer has been prepared which looks at the institutional mechanism for the implementation of the mandate, activities which would be supported and facilitated by the institutional mechanism, and the linkages with the financial mechanism for the provision of financial support for these activities.
There is a high degree of shared understanding though not consensus, on these issues in the AWG-LCA negotiations. It is expected that this meeting will enhance the possibility of reaching agreement on the technology mechanism at Cancun.
In view of the discussions during the AWG-LCA, the parties felt that in three key areas political convergence is required. They are the objective and goals of the technology mechanism; the operational structure of the mechanism, including its institutional form, and governance; and the linkages between the technology mechanism and the financial mechanism.
Parties have suggested a wide range of goals and objectives for the technology mechanism. These goals and objectives are relatively limited in scope to expansive scopes.
All Parties have expectation that the activities financed under the adaptation and mitigation processes would result in real adaptation and mitigation benefits that are delivered immediately as a result of project implementation.
Consequently, the activities financed under the adaptation and mitigation mechanism processes would use technologies that are mature, and business models, which are commercially viable.
The activities will require incremental financing from the Financial Mechanism in order to enable their implementation. (ANI)