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The G-77/CHINA said there was no consensus on Alternative A, which contained a list of programmes and measures for mitigation and adaptation, and proposed deleting it and Alternative B, which emphasized technology transfer. Kjelln said his Co-Chair's text might be substituted for the paragraphs on which agreement could not be reached. Estrada asked that the Co-Chair's text be distributed. After extended debate, the text was accepted. ARTICLE 12 (Clean Development Mechanism): On 4 December in the COW Plenary, Luis Gylvan Meira Filho reported on consultations held on a proposed clean development fund (formerly Article 18) and said that there was verbal consensus to include it in the text of the Protocol, but drafting to that effect was pending. The text on emissions trading was dealt with in the QELROs negotiating group, in informal negotiations, and eventually as paragraphs of Article 3 in the final COW debate, where the text was deleted and a different version added as Article 16 bis.

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On 9 December, Estrada introduced a new draft text (FCCC/CP/1997/CRP.4) at an evening session of the COW. He indicated that the proposed text on Article 3 would be treated as a take it or leave it offer. The proposal was the "big bubble," as suggested at various moments during the negotiations, in particular by Russia. The Chair's text contained a global reduction of 5% in emissions of CO2, CH4, NO2 from 1990 levels, for the commitment period between 2006 and 2010, with the possibility that Parties fulfill the commitment individually or jointly. He said the global reduction commitment had been distributed in a differentiated way, with some countries possibly increasing emissions, others keeping their current levels, and most reducing. ARTICLE 8 (Expert Review of Implementation): Article 8 calls for review by expert review teams of the information submitted under Article 7 by Annex I Parties, as part of an annual compilation and accounting of emissions inventories and assigned amounts and the review of communications. The review teams shall be coordinated by the Secretariat and composed of experts selected from those nominated by the Parties to the Convention and intergovernmental organizations, as appropriate. The review process shall provide a comprehensive technical assessment of all aspects of implementation of the Protocol, and the teams shall prepare a report for the MOP assessing the implementation and identifying any potential problems in the fulfillment of commitments. The Secretariat shall circulate the reports and list questions of implementation for further consideration by the MOP. The MOP shall: adopt at its first session, and review periodically, guidelines for the review; with the assistance of SBI and, as appropriate, SBSTA, consider the Parties' information, the expert review reports, the questions listed by the Secretariat, and any questions raised by Parties; and take decisions on any matter required for the implementation of the Protocol. Methodologies for estimating anthropogenic emissions by sources and removals by sinks of all GHGs not controlled by the Montreal Protocol shall be accepted by the IPCC and agreed upon by COP-3. Where methodologies are not used, appropriate adjustments shall be applied according to methodologies agreed upon by the COP acting as the MOP. The first MOP shall elaborate modalities and procedures to ensure transparency, efficiency and accountability through independent project auditing and verification. The MOP shall also assure that a share of proceeds from certified projects is used to cover administrative expenses and to assist meeting adaptation costs of those developing country Parties particularly vulnerable to climate change effects. Participation may involve private and/or public entities, subject to guidance provided by the CDM executive board. Certified emission reductions obtained between 2000 and 2008 can be used to achieve compliance in the first commitment period. The COP serving as the MOP shall, at its fourth session, analyze the implications of the paragraph on reductions between 2000 and 2008.Once she is finished she has me go downstairs to where my dad is waiting for us to discuss what I did the night before. Now before you jump to any conclusions, neither of them are angry that I am dressed as a woman. In fact, they both tell me that I look very pretty as a girl and that I have a nice feminine figure. They both know that I only dressed up for the party and realize that it was all for fun. What they are angry about, however, is the manner in which I carried myself the night before. The drinking, weed smoking, stripping, and lesbian make out session are of no concern to them, but they do not condone the actions that got me arrested. Those actions have to do with a college football rivalry. Now my parents both understand the rivalry and even participated in rivalry pranks when they were in college. Unfortunately, the prank we pulled in our drunken state the night before went a little too far. The PHILIPPINES, supported by the MARSHALL ISLANDS, FRANCE, UGANDA, SAUDI ARABIA, TRINIDAD and TOBAGO, the EU and the NETHERLANDS, proposed deletion of a paragraph stating that certified emissions reductions from 2000 to the beginning of the first commitment period can be used to achieve compliance during that commitment period. FRANCE said COP-4 should consider the paragraph. RUSSIA, COSTA RICA, HUNGARY, the US, CROATIA, JAPAN, PERU and POLAND opposed the deletion, as did CANADA, who said joint implementation with credit was an important notion to retain.

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The final meeting of the COW began on Wednesday, 10 December, at approximately 7:00 pm. The meeting was suspended to allow for distribution of the Chair's final draft (FCCC/CP/1997/CRP.6) and further informal consultations. At 1:00 am, delegates began an article-by- article review of the text, discussing the provisions related to QELROs, emissions trading and voluntary non- Annex I commitments at length. Paragraph 7 states that for the first commitment period (from 2008 to 2012), QELROs for Annex I Parties shall be equal to the percentage of their 1990 or chosen base year emissions inscribed in Annex B, multiplied by 5. It determines that Parties shall include in their 1990 emissions base year or period, GHG emissions minus removals in 1990 from land use change for the purposes of calculating their assigned amount, if land use change and forestry constituted a net source of GHGs in 1990. Developed countries expressed varied approaches. Members of the EU stressed their group position and detailed their individual commitments and efforts. Others partially agreed to this but said that developing countries needed to make voluntary commitments and at least begin the "sequencing of obligations." A process through which a review of commitments by all Parties could be carried out was also raised.

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Further discussion of differentiation occurred in informal consultations, both in intense bilaterals and under the guidance of Estrada. By the end of the first week, Estrada had reportedly produced a set of differentiated target numbers for Annex I countries. Estrada asked delegates to adopt the revised Annex B, reflected in document FCCC/CP/1997/L.7/Add.1, in light of the text agreed for the Protocol. Annex B presents each Annex I country's commitment target. Combined, these equal a global 5.2% reduction of six GHGs. Estrada pointed out that on a graph it could be seen that a 5% reduction from 1990 emission levels would equal a 10% reduction in emissions of six gases from projected 2000 levels and was 30% below business-as-usual projections for 2010. AGBM-7 met from 28 July - 7 August 1997 in Bonn. A total of 145 Parties and Observer States participated in the session, as well as 691 representatives from NGOs and the media. AGBM-7 further streamlined the negotiating text. In the absence of initial formal proposals for emissions reduction targets by the US and Japan, there was a widespread sense that most of the progress achieved at this session was limited to a reduction in the number of proposals. Much of the negotiations on the CDM took place in informal bilateral and group discussions lead by the US and Brazil. The first public debate took place in the final COW Plenary. Delegates amended references to an executive board "of the CDM."

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