What are the key elements of Durban Decisions/Package?

At Durban, the second commitment period for developed country parties under the Kyoto Protocol was established. Several institutional mechanisms including the Green Climate Fund, Technology mechanism, and the Adaptation Committee which had been agreed at Cancun were operationalised at Durban. The Durban conference also adopted the guidelines for transparency arrangements which will result in the first biennial reports/updates of mitigation actions of developed and developing countries to be furnished in 2014 and the IAR and ICA of such actions to take place in 2015. The Durban Conference also agreed to launch a process under the Durban Platform to develop a protocol, another legal instrument or an agreed outcome with legal force under the Convention by 2015 and implement it from 2020.