Progress towards a global deal in Durban, Inclusion of aviation sector in EU ETS legal, Carbon tax in the cards for China, South Korea to introduce trading scheme from 2015

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Happy New Year and welcome to the second edition of Global Green Policy Insights.

As 2011 drew to a close, all eyes were on Durban as governments gathered there for the annual United Nations climate change summit. One of the key outcomes from the summit, was the launch of a roadmap towards agreeing an ambitious global deal in 2015, to be in force by 2020. This was as good an outcome as we could have hoped for, given the economic climate.

With sucha deal still years away, we can expect to see continued development of subnational, national and even multinational policies, as governments look to new approaches to address climate change. For example, in the last few months alone, there has been suggestion - subsequently denied - of China introducing a new carbon tax, Mexico has passed key climate change legislation, Rio de Janiero has announced the introduction of a state-wide environmental exchange market and progress has been made towards the development of an emissions trading scheme in South Korea.