So if talks about a globally binding agreement are already off the table at Durban, will anything else be achieved?
A likely area of progress will be the Climate Fund and Technology Mechanism. The Climate Fund aims to provide $100bn per year by 2020. These funds will be used for climate adaptation and mitigations projects in developing nations.There is however no agreement yet on where this funding should come from. Obviously the first port of call is developed nations, but how should this divided and what about the role of rapidly developing economies that by 2020 could be considered developed nations?
In the short term the $10bn already pledged at Copenhagen in 2009 is plagued by controversy as developing nations argue that very little of this is additional to funds already provided.
Nonetheless, at Durban, there is hope for real and concrete progress to be made on agreeing a framework and managing the fund in the future.
The other mechanism that is likely to make progress at Durban, once the Climate Fund is made operational, is the Technology Mechanism. This mechanism, agreed at COP 16 Cancun, will facilitate action on technological developments and transfer. It will have access to the finance, which will be provided by the Climate Fund, to start projects such as capacity building and National Adaptation Funds.
The hope for progress and support for making these mechanisms operational bodes well for the continuance of the Kyoto mechanisms, even when the commitment period ends in December next year.