Climate change is one of the most serious challenges facing the international community. In accordance with the Bali Roadmap agreed in December 2007, all countries, developing and developed alike, will hold in-depth, multi-track negotiations for the post-Kyoto period on emissions reductions, adaptation, technology and financial resources. These post-2012 negotiations will most likely face difficulties due to conflicts in interest among the players as evidenced by the way the Bali Roadmap was adopted. The main problems lie in getting the developed countries to agree on emissions reductions while ensuring the comparability of efforts among them, and formulating a way for developing countries to lower emissions in a way that is verifiable, measurable and reportable.

Aside from the United Nation’s post-2012 negotiations, the Major Economies Meeting on Energy Security and Climate Change was initiated by US President George W. Bush last year. It will hold its second meeting in Hawaii at the end of January and proceed with four more meetings in the first half of this year. The sixteen countries which emit the most huge amount of greenhouse gases will participate in this process and aim to reach agreements not only on a long-term global goal to reduce greenhouse gases but also mid-term(2020/2030) targets by each member at the Climate Change Summit this summer. The agreements will also be reported to the United Nations Process.

Just as climate change is being widely discussed within international fora such as the UN, G8, APEC, and ASEM, domestic interest regarding the issue is increasing as well. Although Korea has not yet committed to emissions reductions, we should all begin the in-depth discussion within the business community as well as civil society and achieve domestic consensus on how to contribute to the new framework, which commensurate with our national capability. As the government agency in charge of negotiations, the Ministry of Foreign Affairs and Trade will do its utmost to formulate a way in which Korea can participate actively in international efforts, while contributing to sustainable development.