Abstract

Climate change negotiations in the framework of the UNFCCC are expected to lead to the adoption of an international agreement at the 21st session of the Conference of the Parties in Paris at the end of 2015. To operationalize the principle of common but differentiated responsibilities and respective capabilities, the future agreement will most likely combine a top-down approach, setting internationally agreed ground-rules and deadlines, with bottom-up elements, such as «Intended nationally determined contributions» (INDC) to reduce emissions by States Parties on the basis of their respective national circumstances. To ensure the sound functioning of this regulatory system, adequate monitoring, reporting, and verification procedures will need to be established. If the international community wants to achieve ambitious and real climate objectives, it should build a solid and inclusive global agreement that is capable of further developing appropriate rules. The creation of a transparency framework that enhances coherence, comparability between countries and accountability is crucial to ensure the effectiveness, the environmental integrity and the legitimacy of the whole system.