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Advancements in international agreements

The 2011 COP 17 (Conference of the Parties) meeting in Durban, South Africa, the international deliberations among nations under the Kyoto Protocol, ended with an agreement by the 195 participating countries to work on a new international agreement on climate change. This agreement is to include both developed and developing countries for the first time. The countries signing the resolution have agreed that they will decide the method of this treaty to be implemented in 2020. Thus, countries with major emissions such as China, India and the United States would make the legal commitment to reduce emissions beginning in 2020.

In addition, a series of countries (EU countries, Norway, Australia and New Zealand) agreed to participate in the second commitment period for Kyoto Protocol to begin in 2013 and end in 2017 or 2020 (as decided at the COP 10 meeting in Qatar).

The Green Fund created at the previous COP, which aims to have an investment capacity of around US$100,000 annual millions until 2020, is now operational and will be located in Switzerland.