(Newsroom America) -- UN Secretary-General Ban Ki-moon has hailed the outcome of a United Nations-backed climate conference in Lima, Peru, praising delegates for setting the groundwork for a more conclusive agreement to be reached in 2015.
The UN Climate Change Conference (UNFCCC), known also as Conference of the Parties (COP 20), concluded its 12-day meeting last Friday having brought together the 196 Parties to the UNFCCC in an attempt to hammer out a new universal treaty which would enter force by 2020.
The final agreement is expected to be hashed out in Paris at the end of next year.
“The decisions adopted in Lima, including the Lima Call for Climate Action, pave the way for the adoption of a universal and meaningful agreement in 2015,” a UN spokesperson said in a statement.
“The Secretary-General urges all Parties, at their first meeting in February next year, to enter into substantive negotiations on the draft text of the 2015 agreement coming from the Conference.”
In the statement, Mr. Ban applauded delegates for having made “important advances” in clarifying their needs for preparing and presenting their so-called Intended Nationally Determined Contributions (INDCs) to the new agreement and in “finalizing the institutional architecture for a mechanism on loss and damage.”
INDCs are the commitments countries are expected to make in order to keep average global temperature rise below 2ºC – the internationally-agreed limit aimed at staving off irreversible climate change.
Also in Lima, acknowledged the statement, the $10 billion goal for the initial capitalisation of the Green Climate Fund – the initiative designed to direct funding from developed nations to those developing countries most vulnerable to climate change – was surpassed.