South Africa

• New deal to be finalized by 2015 and launched by 2020.
• Second phase of Kyoto protocol secured.
• goal of creating a new agreement to regulate carbon emissions.
• In Durban, governments made it clearly evident that a new, legally binding, universal agreement was required to address climate change after 2020. As a result, the agreement would allow all parties to contribute as fully as possible and share in the rewards of success.
• GCF launched
• Adaption mechanism
• Transparency mechanism