Copenhagen climate conference ends, but bigger challenges remain

Somehow, some way, against all odds and despite much tension, the world managed to pull together in Copenhagen for the 2009 Climate Conference. The result was short of a resolution, but there are some bright spots. With the new Copenhagen Accord, we saw:

• A commitment to curbing deforestation as the world’s carbon superpowers came together and agreed to move forward (albeit with very different kinds of actions) in a non-binding framework.
• A group of island states announced the establishment of a capital investment vehicle to finance their transition away from expensive, imported fossil fuels to a low-carbon economy, and by doing so set out on a course that will lead them to adopt hard caps and plus into the global carbon market.
• The new Copenhagen Accord (even without an agreement on verification and compliance) serves as a platform from which we can get to the next huge step – an international treaty.