The Fourth Conference of the Parties to the UNFCCC concluded in the early hours of Saturday morning with the adoption a ‘Buenos Aires Action Plan’ establishing deadlines for finalizing work on the Kyoto Mechanisms (Joint Implementation, Emissions Trading and the Clean Development Mechanism), compliance issues and policies and measures.

UNFCCC Executive Secretary Michael Zammit Cutajar joined a number of Parties and NGOs in welcoming the Action Plan’s year 2000 deadline for the completion of work. The Buenos Aires Plan of Action includes deadlines on a number of important issues:

• Financial mechanisms - which will assist the developing world to respond to the challenges related to climate change.
• Further work on policies and measures - an issue introduced by the EU at a late stage in the Conference.
• Development and transfer of technologies.
• Rules governing the Kyoto Mechanisms with priority given to the Clean Development Mechanism.
• An undertaking to discuss supplementarity, ceilings, long term convergence and equity.

On technology transfer Parties broke a 4-year deadlock in the debate. The Conference decision outlines a process on how to overcome the barriers to the transfer of environmentally sound technology. On compliance Parties reached a common understanding that a strong and comprehensive regime is needed to ensure an effective implementation of the Kyoto Protocol. Countries vulnerable to the impacts of climate change will receive further support from the Global Environment Facility to plan concrete measures for adaptation.

At the close of the Conference, Zammit Cutajar said: "We now have an action plan with timetables. The crunch will come at the sixth session of the Conference of the Parties at the end of the year 2000." The EU’s Commissioner for the Environment Ritt Bjerregaard said: "We would have wanted to achieve more - you always do. But this was what we could push the other Parties in the Conference to agree on." US Under Secretary of State for Economic, Business and Agricultural Affairs, Stuart E.Eizenstat, who announced his country’s intention to sign the Kyoto Protocol Thursday, said the success of COP-4 proved that the framework built in Kyoto was indeed sound.

The World Wide Fund for Nature welcomed the year 2000 deadline in the Action Plan but expressed disappointment at the absence of any discussion on guiding principles for the Kyoto Mechanisms. Lars Georg Jensen added: "It’s another small turn on the rudder of the climate change supertanker. But governments have much more to do to steer clear of the rocks."