Memo: EU hails Marrakech agreement on operational rules to combat Climate Change

The EU has reached its objective to make the Kyoto Protocol - the international framework to cut greenhouse gas emissions - operational. After two weeks of difficult negotiations, the 7th Conference of the Parties to the Convention on Climate Change (COP7) in Marrakech has ended onn 10 November 2001 with an agreement on the operational rules to fight climate change. The package agreed upon includes decisions on compliance rules, the so-called “flexible mechanisms” and monitoring and reporting obligations for Parties. All Parties agreed that the package would be sufficient for the timely ratification of the Kyoto Protocol. The Protocol has to be ratified by 55 Parties representing 55% of industrialised countries' greenhouse gas emissions.