UN Environment Chief Achim Steiner, has announced that major emitters must move quickly to reduce the gap between their CO2 emission reduction pledges and the 2020 emission targets, if we are to have a chance of limiting temperature rise to under 2degrees.

A new report released yesterday by the UN environment programme ((UNEP), stated that we were clearly not on target to reach the 2020 emission targets. The UNEP Year Book 2010 report was distributed at a meeting in Bali this week and states that even if the current emission reductions being pledged are achieved, we are likely to fall some way short of limiting temperatures to a 2 degree rise, by 2020.

The document highlights the need for further investment in accelerating the creation of clean technologies and investing in marine and terrestrial ecosystems as key areas of focus.

It estimates that investing between $22-29 bn in Reduced Emissions from Deforestation and Degredation (REDD) could reduce deforestation by 25% by 2015. The crucial role of REDD was acknowledged by the Copenhagen accord, as it called for 'finacial incentives' to mobilise finacial resources.

Read the UNEP press release at http://www.unep.org/Documents.Multilingual/Default.asp?DocumentID=612&ArticleID=6472&l=en