" "SOONER ORLATER, ALL BUSINESSES WILLHAVE TO CLIMATE-PROOF THEIR OPERATIONS,FROM SUPPLY-CHAIN TO POINT OFSALE, FROM PLACEOF PRODUCTIONTO PLACE OF INVESTMENTPOST-CANCUN REMARKS041Right: ChristianaFigueres, ExecutiveSecretary, UNFCCCIN TERMS OF ADAPTATION, NATIONALPOLICY EFFORTS ARE STILL IN THEIRINFANCY, ALTHOUGH THEY AREURGENTLY NEEDEDTo date and in response to international efforts, manynational initiatives have focused on identifyingadaptation needs, but little real implementation hastaken place. For the development of adaptation policies and theirimplementation, local initiatives can provide valuableinput. Additionally, businesses need to become a keydriver of adaptation action. Sooner or later, allbusinesses will have to climate-proof their operations,from supply-chain to point of sale, from place ofproduction to place of investment. IN TERMS OF MITIGATION, NATIONALPOLICY EFFORTS ARE MOREADVANCED The process of crafting low-carbon national policiesthat can work in tandem with international policy has already begun. This is encouraging because the2°C temperature limit and envisioned low-carbongrowth in the Cancun Agreements will be impossible toachieve without significantly scaling up the use ofrenewable energies. Private sector investments into renewables havesteadily increased by leaps and bounds since 2007 -but more is needed. Nationally appropriate mitigation actions in developingcountries can hold major investment opportunities. For example, a NAMA for rural electrification couldattract critical investments from renewable energy companies, provided that the appropriateincentives exist. Incentivising investments in NAMAs will contributetowards their full implementation to the benefit ofmillions of rural people. In this context, it is importantto coordinate policies with private sector initiatives. In conclusion, allow me to state quite frankly thatimplementing the Cancun Agreements to the full willbe impossible without the active involvement ofstakeholders from every walk of life. nThis is an edited version of an address delivered by Christiana Figueres, Executive Secretary of theUnited Nations Framework Convention on ClimateChange, at the Stakeholder Dialogue "Implementingthe Cancun Agreements" meeting in Mexico City on22 March 2011.For more information visit: unfccc.int.

ne of the most significant outcomes of the United Nations Climate ChangeConference in Cancun (COP16) was the much-anticipated agreement onReducing Emissions from Deforestation and ForestDegradation (REDD+) - part of a set of decisions toadvance a legally-binding global climate changeagreement with the ultimate goal of reducing global emissions. The REDD+ mechanism aims to make forests indeveloping countries more valuable standing than cutdown by creating a financial value for the carbon storedin standing trees, and includes the role of conservationand enhancements of forest carbon stocks andsustainable management of forests. The COP16agreement on REDD+ is indeed an encouraging step forward for a mechanism that is largely seen as one of the most promising solutions for climatechange mitigation. THE EVOLUTION OF REDD+The seed for the REDD+ mechanism was planted atCOP11 in Montreal in 2005 when the governments ofPapua New Guinea and Costa Rica introduced theconcept of Reducing Emissions from Deforestation indeveloping countries (RED). The concept was referredto the Subsidiary Body on Scientific and TechnicalAdvice (SBSTA) for elaboration. Since then, SBSTAhas been discussing and addressing several importanttechnical and methodological aspects of REDD+, frommeasurement, reporting and verification to governanceand the definition and inclusion of safeguards. The2007 Bali Action Plan consolidated and expanded theRED concept by including reference to policyapproaches and positive incentives on issues relatingto reducing emissions for deforestation and forestdegradation (adding the second "D" to "REDD") indeveloping countries, and the role of conservation,sustainable management of forests, and enhancementof forest carbon stocks in developing countries (addingthe "+" to "REDD+"). Despite a great deal of momentum and awarenessraising for REDD+ in 2009, COP15 in Copenhagenfailed to produce a global legally binding climatechange agreement including REDD+. With far lessexpectations for REDD+ heading into Cancun,countries came together in December 2010 to adopt abalanced package of agreements to support enhancedaction on climate change, including the first-everagreement defining the REDD+ mechanism from apolicy perspective, under the UN FrameworkConvention on Climate Change (UNFCCC). While notall aspects of REDD+ are fully addressed, notably thefinancial aspects and the role of carbon markets, thearchitecture of the mechanism is now almost complete. Outside the UNFCCC processes, there have beennumerous multi-lateral and bi-lateral initiatives andpilot projects for REDD+ readiness. The objectives ofthese initiatives have been to promote country-levelactivities on REDD+ readiness, support capacitydevelopment and knowledge, mobilise requiredfunding, pilot REDD+ activities and share early lessonson country actions. The expectation, although notalways realised, has been for all these initiatives to complement and not compete with the UNFCCC process. DEFINING REDD+The text on REDD+ in the COP16 agreements outlinesRight:Dr Yemi KaterereTHE ROAD AHEAD FOR REDD+042POST-CANCUN REMARKSODR YEMI KATERERE, HEAD OF THE UN-REDD PROGRAMME SECRETARIAT