The following guest blog is a cross-post from Zizzo Allan Climate Law.
 Co-founder Travis Allan made the rather enviable early Winter trek to Cancun to gain a personal, real-time perspective on the event as it unfolded. This summary of Cancun follows my earlier post - COP16: Dispatches from the Front Lines - which provided a mid-conference update on the negotiations.
These are some answers to the most common questions we’ve received after Cancun.
1. What do the decisions mean?
Cancun ended with a series of decisions that should help developing  countries reduce their Greenhouse Gas (GHG) emissions and adapt to a  changing climate, solidify the role of Carbon Capture and Storage,  clarify rules around forestry and international reporting and create a  new framework for technology transfer to developing countries.  Negotiators did not create a new treaty to replace or extend Kyoto, but  they did put in place some stepping stones that will increase the  chances of that happening next year in Durban, South Africa.
Funding for Developing Countries – The Parties decided to 
create  a “Green Climate Fund” that will oversee a  “significant’ share of new  funding from developed countries to developing countries. The decision  creating the Green Climate Fund also recognized that developed countries  have committed to a goal of making 100 billion US dollars per year  available to developing countries by 2020. The Green Climate Fund is  expected to manage a portion of the 100 billion USD commitment.
Carbon Capture and Storage (CCS) – After much wrangling, it was 
decided  that CCS (which usually involves storing carbon below the ground  instead of letting it release into the atmosphere) is eligible as a  project activity under the 
Clean Development Mechanism  (CDM) subject to a number of issues being resolved. The CDM covers the  most well-known carbon offset credits, which are allowed into the  European Emissions Trading System and governed by the UN. Even though  Canada is not eligible to host CDM projects, this decision is still  relevant since the Federal and some provincial governments have invested  and continue to invest significant resources into CCS technology and  research. This could also be relevant because CDM methodologies are  often used as a template for voluntary carbon credit protocols (assuming  a CDM CCS methodology is developed and Canada still doesn’t have an  applicable GHG emissions cap).
 
Forestry – The Negotiations 
agreed  that “Parties should collectively aim to slow, halt and reverse forest  cover and carbon loss, according to national circumstances…” The parties  also made progress the longstanding question of how to measure a  country’s carbon stored in forests. Forestry accounting will now  generally be done at a national level, but negotiators agreed that  sub-national reference levels could be used as a temporary measure  (based on national circumstances). This is a step forward for REDD  (Reducing Emissions from Deforestation and forest Degradation) because  it provides important guidance to countries getting ready to put a  number of their forest carbon, but the decision didn’t answer important  questions such as 
whether countries can use financial mechanisms (such as carbon offset credits) to incent REDD activities.
 
Monitoring, Reporting and Verification One of the  biggest  sticking points in negotiations between developed and  developing  countries is transparency. Developing countries often  complain that  developed countries are secretive about their aid  commitments, while  developed countries are worried that developing  countries either can’t,  or won’t properly report their GHG emissions  information. In Cancun,  both sides made 
commitments  on these fronts, a big stepping-stone in advance of Durban (see also   the World Resources Institute analysis under “Transparency and   Reporting” 
here).
 
Technology Transfer – Developing countries and many  international climate commentators believe that developed countries are  obligated to share technology that will help developing countries reduce  their GHG emissions and also adapt to a changing climate. The  negotiators 
agreed to establish a technology mechanism that includes a Technology Executive Committee and a Climate Technology Centre and Network.
While the technology mechanism is a big step, it isn’t yet clear how  these bodies will function in the UN system and a lot of technology  issues were left undecided. In particular, negotiators didn’t address  intellectual property, which is the most contentious technology issue.
 
Kyoto (and post Kyoto) Cancun didn’t create a  replacement for the Kyoto Protocol (KP) and it didn’t set up binding  targets for the period after the KP’s first commitment period, which  ends in 2012. It did, however restore trust and come to decisions that  will hopefully set the stage for success in Durban.
Some of the important decisions 
reached  around the Kyoto Protocol include taking note of the commitments for  additional reductions made by Annex 1 (developed) countries in the lead  up to Copenhagen and confirming that emissions trading mechanisms will  continue to be available to Annex 1 countries (as an aside, the Cancun  decisions also took note of developing country pledges leading up to  Cancun).
 
2. Does the UN still have a role to play in climate regulation?
Many commentators have argued that the success of Cancun has kept the  United Nations Framework Convention on Climate Change (the UNFCCC – the  UN body that coordinates the UN system’s approach to climate change)  relevant.
Claire Demerse, the Pembina Institute’s Associate Director of Climate Change 
concluded  “Although the result is very far from perfect, the Cancun talks took  real steps forward — and along the way, showed that the inclusive UN  process for climate negotiations can work, despite the vast differences  between the countries that took part.”
Before Cancun, Jennifer Morgan at the World Resources Institute 
wrote  “If Cancun does not bring progress, much of the energy around an  international agreement will likely move from the United Nations  Framework Convention on Climate Change (UNFCCC) to other fora.” The WRI  team 
concluded after Cancun was over that this pressure was a key factor in the success of the negotiations.
One of the most interesting last-minute developments was the decision  by Mexican Foreign Secretary and Conference President Patricia Espinosa  to approve the agreements over the objections of Bolivia. She 
noted  that while decisions are made by consensus, this doesn’t “mean that one  country has the right to veto” decisions supported by everyone else.
 
3. How did Mexico do as host?
The short answer is that Mexico did a great job. Mexican government  representatives were roundly applauded for being committed to  transparency and for finding consensus on some difficult issues. CTV 
notes  that “Espinoza garnered praise from delegates and media alike for  managing the egos of countries such as Japan and Russia, who resisted  calls to agree to further emissions cuts after targets agreed to under  the Kyoto Protocol expire in 2012. Zoë Caron Climate Policy &  Advocacy Specialist at WWF-Canada’s 
writes  “This year’s president of the conference, Patricia Espinosa, however,  focused first and foremost on rebuilding an effective and transparent  international process. And she succeeded.”
While they were extremely clean and efficiently run, it was  unfortunate that the conference facilities spilt up civil society events  from the negotiations. Negotiations, held in a hotel called the Moon  Palace, were a 15-20 minute bus ride from the main hall (Cancun Messe)  where NGOs and UN agencies had their side events. Side events are  presentations and Q&A sessions held by interested groups to updated  conference delegates, including negotiators, on key issues around  climate. Separating the facilities might have increased security and led  to more room, but it also made it very hard to attend side events and  negotiations on the same day, and likely resulted in a decrease in the  number of negotiators and national leaders attending side events.
Turning to the conference as a whole, however, the Mexican hosts and  the UNFCCC worked extremely hard to create an open and productive  atmosphere to make progress on an international response to climate  change. With the building blocks noted above and others, such as
Thanks Travis!
~Rob