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1. [No] reservations may be made to this Convention.

Parties Not Precluded from Making Declarations

[2. Paragraph 1 above shall not, however, preclude a State or regional economic integration organization, when signing, ratifying, accepting, approving or acceding to this Convention, from making declarations or statements, provided that such declarations or statements do not purport to exclude or to modify the effects of the provisions of the Convention in their application to that state or regional economic integration organization.]

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1.

At any time after (three] [five] years from the date on which this Convention has entered into force for a Party, that Party may withdraw from the Convention by giving written notification to the Depositary.

Effective Date of Withdrawal

2. Any such withdrawal shall take effect upon expiry of [six months] [one year] from the date of its receipt by the Depositary, or on such later date as may be specified in the notification of the withdrawal.

Withdrawal from Convention Considered as Withdrawal from Protocol

3.

Any Party that withdraws from this Convention shall be considered as also having withdrawn from any protocol to which it is a Party.

VIII.7. AUTHENTIC TEXTS

The original of this Convention, of which the Arabic, Chinese, English, French, Russian and Spanish texts are equally authentic, shall be deposited with the Secretary-General of the United Nations.

IN WITNESS WHEREOF the undersigned, being duly authorized to that effect, have signed this Convention.

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[RESEARCH (TECHNOLOGICAL] [[AND] DEVELOPMENT]

AND SYSTEMATIC OBSERVATION] [TECHNOLOGICAL AND SCIENTIFIC
RESEARCH AND SYSTEMATIC OBSERVATION]]:/

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58

[ANNEX II

REPORTING

1.

Reports submitted pursuant to Article (VII. 1.] (Reporting) (shall] [may] contain (,inter alia,] the following information:

(a)

(b)

(c)

((d)

((0)

[(E)

[(9)

Description of relevant national circumstances relating to climate change and, for developing countries, any particular difficulties faced by them;

National inventories of sources and sinks of all greenhouse gases
not controlled by the Montreal Protocol, using comparable
methodologies agreed upon by the Conference of the Parties;
Option 1

[The measures it is taking to implement this Convention, including
the fulfilment of any general or specific commitments, with respect
to, inter alia; national (strategies and] programmes; mitigating
and adapting to climate change; research and systematic
observation; exchange of information; public awareness; financial
resources and cooperation and related technology transfer;}

Option 2

[For developed country Parties,] [and developing country Parties)
[measures] [national strategies] [policies] to mitigate and adapt
to climate change (including a description of specific actions
being taken or to be taken, with respect to each gas in each sector
selected for action by the Party];

[Measures taken in fulfilment of the [obligations] [specific
commitments] under the Convention, [with particular attention to
(reductions of emissions, transfer of financial resources and
technology] [energy efficiency and conservation, new (and
renewable energy sources,] [mitigating the adverse consequences of
climate change] [protection and enhancement of] sinks, (land use
and management,] coastal zone management, transportation and
industrial processes (and agriculture];}

Current projections for annual levels of sources and sinks of
greenhouse gases and expected changes and trends taking into
account measures and policies described under (c);}

Expected changes and trends in [net] emissions of [main] greenhouse
gases and sinks] (including estimates of the [net] effects of its
actions on national [net) greenhouse gas emissions] [and sinks]
(with particular reference to the achievement of any target
established in the Convention];]

Parties undertaking specific commitments may include estimates of
the costs of specific measures to meet commitments under the
Convention, guided by a methodological framework they have agreed
upon;]

Contributions to the financial and technology transfer
mechanism;]

59

2.

((h)

For developing country Parties, (projects for] [requirements of]
transfer of technology and financial resources to mitigate and
adapt to climate change, as well as estimated gross and incremental
costs of these projects] [to fulfil these requirements;]

(i) Option 1

((3)

((k)

[(1)

[(m)

[(n)

(0)

[Effective measures in fulfilment of obligations and specific commitments relative to the provision of adequate, new and additional financial resources, and access to and transfer of environmentally sound technology on a preferential and noncommercial basis contributions to the financial mechanism of the Convention and description of programmes for technological cooperation;]

Option 2

[Effective measures in fulfilment of obligations and specific commitments relative to the provision of financial resources and cooperation on transfer of technology;]

Description of methodologies used in making its estimates in areas
where there is no methodology agreed under the present Convention;]
Efforts as appropriate,] to coordinate and harmonize measures to
avoid trade distortions;]

Relevant national research (and development] and systematic
observation programmes and participation in international
programmes;]

National (programmes] [measures] and international cooperation with regard to education, training and public awareness (and technology transfer); }

Efforts to implement (obligations] [specific commitments] jointly with another Party or Parties;] and

Such other actions as are relevant to the achievement of the
objective of the Convention.

Further, reports may, on a voluntary basis, identify proposed projects in need of investment including specific technologies, materials, equipment, techniques or practices that would be needed to implement such projects and an estimate of the costs and net greenhouse gas emission reduction associated therewith.

3.

(A Party may designate [the following] [any] type[s] of information contained in its report as confidential[.][:]}

[Possible alternative chapeau

[A Party and the Advisory Committee on Implementation may agree that certain information contained in the report of that Party is confidential. Categories of confidential information include:]

((a) Information that is directly related to the national defence (and
security] of that Party;]

((b) Information that is of a proprietary commercial nature;]
(c) Information the release of which would result (directly] in

[(d)

[significant] economic or commercial dislocation for that Party; or

Such other information as (the Party believes is confidential]
[agreed upon] [thought necessary by the Party] [by the Party and
the Advisory Committee on Implementation].]]]

61

[ANNEX III

ARBITRATION]/

/ Same text as in A/AC.237/15 Annex II

[ANNEX IV

INSURANCE MECHANISM

1. The Parties recognize that:

2.

3.

(a)

(b)

(c)

(d)

(0)

There should be established, as an integral part of the Convention,
an International Climate Fund to finance measures to counter the
adverse consequences of climate change, especially drought and
desertification, and a separate International Insurance Pool
(hereinafter referred to as "the Pool") to provide financial
insurance against the consequences of sea level rise;

Revenue for the Pool should be drawn from mandatory sources, in particular developed country assessments;

The financial resources of the Pool should be new, additional and adequate,

The Pool should be under the control and direction of the
Conference of the Parties; and

The resources of the Pool should be used to compensate the most vulnerable small island and low-lying coastal developing countries for loss and damage resulting from sea level rise.

The Parties further recognize that the formulation of a scheme for a Pool involves consideration of the following main questions:

Methods of funding a Pool;

Classification of the types of loss to be covered by the Pool; Criteria for establishing entitlement to claim against the Pool; Methods of evaluating loss resulting from sea level rise; and Limitations on the amount of compensation payable by the Pool. The Parties accordingly agree as follows:

(a)

(b)

(c)

The financial burden of loss and damage suffered by the most
vulnerable small island and low-lying developing countries
(hereinafter referred to as "Group 1 countries") as a result of sea
level rise shall be distributed in an equitable manner amongst the
industrialized developed countries (hereinafter referred to as
"Group 2 countries") by means of a Pool;

The Pool shall be funded by contributions levied on Group 2
countries;

The administrating authority for the scheme (hereinafter referred to as "the Authority") shall be a body controlled on an equitable basis by the Group 1 and Group 2 countries within the framework of the Conference of the Parties;

(d)

(0)

(£)

(9)

(h)

63

The contributions referred to in paragraph (b) shall be calculated according to a formula modelled on the 1963 Brussels Supplementary Convention on Third Party Liability in the Field of Nuclear Energy, as follows:

(1)

(ii)

as to 50%, on the basis of the ratio between the gross national product at current prices of each Group 2 country and the total of the gross national products of all Group 2 countries in the year prior to the year in which the contribution was levied (hereinafter referred to as "the contribution year");

as to 50%, on the basis of the ratio between the total emissions of CO2 of each Group 2 country and the total CO emissions of all Group 2 countries in the year prior to the contribution year;

Ten years from the date on which the Convention enters into force
the Group 2 countries shall contribute to the Pool an agreed
percentage of the total of the gross national products of all Group
2 countries in the year prior to the contribution year, apportioned
as in paragraph (d), provided that over the ten year period the
rate of global mean sea level rise will have reached an agreed
figure. If the rate of global mean sea level rise has not reached
the agreed figure by the end of the ten year period, a review shall
thereafter be carried out at five-yearly intervals and the
obligation of the Group 2 countries to contribute to the Pool will
not arise until the year following the review in which it is
established to the satisfaction of the Authority that the rate of
global mean sea level rise has reached the agreed figure or that
absolute global mean sea level rise has reached an agreed figure;

The insurance fund so constituted shall be invested by the
Authority in interest bearing securities as determined by the
Conference of the Parties;

No right to claim against the Pool in respect of loss or damage in any area of a Group 1 country shall arise until:

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it shall have been established to the satisfaction of the Authority that the rate of global mean sea level rise and the absolute level of global mean sea level rise has reached agreed figures;

it shall have been established to the satisfaction of the Authority that the relative mean sea level rise for any insured area in a Group 1 country has reached an agreed level above base levels determined for each area insured (such relative mean sea level figures having been determined within ten years of the Convention coming into force); and

one year shall have elapsed from the date upon which the figures referred to in sub-paragraph (i) shall have been established as having been reached (that date plus one year being (hereinafter referred to as "the inception date").

In the first instance those areas of Group 1 countries which would
be directly affected by sea level rise to a level of an agreed
number of centimetres above the base levels referred to in
Marketed assets
paragraph (g) (ii) shall be valued for insurance.
shall be valued on the basis of gross domestic product for the
insured area in question. Non-marketed interests shall be valued
on the basis of formulae to be agreed;

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