On the final day of COP 25 in Cologne, love seemed to be in the air as a multitude of side agreements were reached in addition to the Cologne Agreement.
Russia and China agreed on intensifying and improving the international relations and trade with each other to foster both countries economic developments. Furthermore, Russia and China will discuss possible incentivesto increase the ambition level of the nationally determined contributions. More specifics will be agreed upon in a bilateral meeting in the upcoming months in Moscow.
Another bilateral agreement was announced by Brazil and China, with the goal to increase the exchange of clean technologies including nuclear, solar, hydro and forest management. The specifics of this agreement will be discussed during a bilateral meeting in Rio de Janeiro in December 2019.
Last but not least, the delegations of Germany, France, UK and Brazil were disappointed by the outcomes oft the Market Mechanism Working Group and have consequently reached a multilateral agreement. In this agreement, the named countries have pledged $300 million dollars to be available for Brazil to combat deforestation through the REDD+ program. These funds shall be offered for a period of five years.
