A Carbon Market Will Make Clean Energy Cheap Alternativebr Louise Blouin Foundation - The Metropolitan Clubbr During the fall of 2011 the United Nations Climate Change conference in Durban, South Africa found support from participating member nations, to draft a successor agreement to the Kyoto Protocol, set to expire in 2012. This new, legally binding agreement will be fully developed by 2015 and will come into effect in 2020. It not only has the aim to reduce greenhouse gas emissions worldwide and therefore prevent a rise in global temperatures by 2ºC, but will also work to establish funding and technology initiatives, in order to help the world’s poorest nations cope with climate change. However, despite this progress towards a global regulatory framework that according to the OECD will keep energy consumption levels relatively stable within OECD countries over the next three decades, non-OECD consumption levels will rise by 60. On average by 2040, global consumption of energy will be 30 greater than what it is today.