PARIS (Sputnik) — Paris climate talks will have to overcome issues of finance assurance to developing countries and agree on a mechanism of review and development of long-term goals to yield a result – a climate deal that would come in force in 2020, program leader of climate diplomacy at Third Generation Environmentalism (E3G) non-governmental organization told Sputnik.
On Friday, the talks were extended by another 24 hours, and the final draft text is expected to be released by Saturday noon.
"The major obstacles right now are about how the developed countries [would] give some assurances to the developing countries and have that secured in the text to make sure that it is predictable and scaled up,” Liz Gallagher said Friday.
According to Gallagher, the second important issue considers the so-called ambition package — “the long-term goals, ideally the 2050 trajectory.”
The problem concerns the mechanism of their development and review to be conducted every five years to see “how they all connect together and what is the burden, so how much the developed countries take the lead as opposed to having a differentiation among the developing countries," Gallagher said.
She added that the current version of the text, released last night, is balanced overall, but in terms of finance, in some parts it is more favorable to one group than to another.
The UN climate summit, which started in Paris on November 30, is a meeting of the Kyoto Protocol parties. Attended by representatives from 195 countries, it is anticipated that the summit will result in the signing of a legally binding agreement.
