The second session of these consultations will begin this morning. The delegates are expected to complete the remaining outstanding items on the agenda. Issues to be resolved include the following:
The governments of Austria, the Netherlands and Switzerland have privately circulated separate "Like-Minded Country" declarations that would commit signatory countries to reduce emissions of CO2 and other greenhouse gases that are not controlled by the Montreal Protocol at 1990 levels by the year 2000. These targets, combined with stronger reporting measures, are intended to show that some countries intend to go beyond the Climate Change Convention that was agreed to in New York last month. These three declarations are currently being integrated into a single declaration that will be finalized at a luncheon on Wednesday. Although the exact mechanisms have not been worked out, this declaration will probably be available for signing by Heads of State alongside the Climate Change Convention during the Conference. This initiative has support from the Small Island states.
During the closing days of PrepCom IV, while Conference Services was overloaded with documents awaiting translation, one document slipped into the system and only emerged one week after PrepCom IV concluded. This document may play an important role in the financial resources negotiations to begin this week. A/CONF.151/PC/L.75 is the draft text on financial resources submitted by Andrs Rosenthal, the issue coordinator from Mexico, during the final week at PrepCom IV. This document was the product of discussions that were carried out during the final week under PrepCom Chair Tommy Koh and Rosenthal. These discussions began with representatives from some of the EC countries, the Nordics and Japan, who were later joined by representatives from the G-77. As a result of disagreement between the G-77 and the EC over the GEF, talks broke down on the last Thursday evening of PrepCom IV. The G-77 insisted that because discussions at PrepCom IV failed to produce an agreement, negotiations on financial resources in Rio would have to resume with the original G-77 and China text, PC/L.41/Rev.1. This text was mired in seemingly intractable negotiations during the third week of PrepCom IV. L.75 appeared at the Japanese Eminent Persons meeting, to many people's surprise, and at the Kuala Lumpur meeting, to the disdain of many developing countries. Many observers suggest that if the negotiations on financial resources are to proceed quickly at UNCED, then discussions will have to be based on some form of the L.75 document. Many countries, including several members of the G-77, maintain that resuming negotiations on L.41/Rev.1 could undermine the advances made during the waning days of PrepCom IV.
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