The document discusses several key issues related to climate change:
1) Developing countries will be disproportionately impacted by climate change and have contributed less to causing the problem historically. Equity is needed in international agreements to address this.
2) While emissions trading can help reduce costs, the focus should be on transitioning to clean energy rather than subsidizing fossil fuels. Mechanisms like CDM risk locking countries into carbon-intensive pathways.
3) Transportation is a fast growing source of emissions. Stronger fuel efficiency and emissions standards globally, especially in major developing country markets, could significantly reduce emissions trends.