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16.

WELCOMES the establishment of the Technology Mechanism as a means to promote more dynamic cooperation between developed and developing countries with a view to accelerating the development, transfer, diffusion and deployment of climate-friendly technologies; UNDERLINES the importance of completing the design of the Technology Mechanism by the Durban Climate Conference.

17.

REITERATES the importance of ensuring the continuation of existing flexible mechanisms, while improving them, and establishing new sectoral or other scaled-up market-based mechanisms at the Durban Climate Conference in order to enhance the cost-effectiveness of, and to promote, mitigation actions while contributing to sustainable development; EMPHASISES that a robust carbon market is required, which drives the carbon price necessary for low-carbon investment, to achieve the global mitigation objectives.

18.

RECALLS that the Cancún Agreements do not cover all the aspects of the work of the Ad Hoc Working Groups, in particular sectoral approaches (international aviation and maritime transport and agriculture) and non-market-based approaches (including for addressing the production and consumption of HFCs under the Montreal Protocol); REAFFIRMS its October 2009 conclusions with regard to the need to agree on global emission reduction targets for international aviation and maritime transport, consistent with the 2°C objective; URGES Parties to work through ICAO and IMO to develop without delay a global policy framework in a manner that ensures a level playing field and that does not lead to competitive distortions or carbon leakage, in accordance with the principles and customary practices of ICAO and IMO, taking into account the principles and provisions of the UNFCCC in the use of potential revenues; STRESSES that the aforementioned aspects need to be taken forward in parallel in order to reach a comprehensive and balanced legally-binding post-2012 framework.

19.

EMPHASISES its determination to continue strengthening bilateral and regional alliances with a view to building bridges which reinvigorate and feed into the UNFCCC process; in this context, EXPRESSES its full support for the incumbent and incoming Presidents of COP 16/CMP 6 and COP 17/CMP 7 to take all the necessary initiatives in the run-up to the Durban Climate Conference; also EMPHASISES the importance of partnerships, informal fora and technical dialogues with third parties to make progress towards Durban; RECOGNISES the potential for mutual benefits through enhanced collaboration of the Rio Conventions."

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