COP15 snippets

> Amazing scenes in the negotiator's Plenary today, with Tuvalu rep arguing and China resisting - both politely but in a very determined way - that a treaty has to limit global temperature increases to 1.5 degrees and to reduce CO2 in the atmosphere to 350ppm. No resolution yet.

> Hot news: Indonesia announced it's proposing a feed-in tariff for geo-thermal energy. Apparently they have 40% of the world's hot rock resources! See

> Russia announced it would cut emissions by 25% by 2020 (from 1990 levels) if other countries agreed to do the same; they had been saying 10-15%; the EU is saying "we convinced them". EBRD at a seminar today explained that Russia's energy intensity is incredibly bad; they have enormous potential to cut emissions from energy efficiency measures. Hopefully the high returns will entice energy efficiency investors despite political and crime risks. EBRD aims to help de-risk.

> Outlook for a "good" Copenhagen Agreement seems to be improving. Insiders are saying that having so many world leaders (more than 100) turning up, and Obama now coming for the end of the Conference, is forcing a better outcome.

> Also helping was the US EPA announcement this week to formally classify CO2 as a pollutant. That allows Obama to regulate CO2 without Congress - it dramatically increases his ability to deliver at least the cuts he's promising.

> The Conference is quite a buzz; 15,000 people talking non-stop in the conference centre. Thousands of laptops, lots of coffee, chanting anti-REDD demonstrators in the background. The cloak room is open 18 hours a day this week; it advertises that next week, as negotiations come to then end, it will be open 24 hours a day.

> Had a talk with a rep couple of big EU pension fund this week to see if they'd join Danish ATP pension fund's new €1 billion 'Climate Change Action Fund for Emerging Economies', reported earlier this week. They think they tackle the issue of investing better by building in relevant criteria across all their asset classes - i.e. in the whole fund. The €1 billion, they think, puts it into a sideline rather than mainstreaming the idea.