It was expressed by Secretary Cayetano in a couple of interviews that the Philippine preference is for a legally binding
code of conduct, but more than that the code of conduct has to be effective,' Bolivar said.
Regulators note that currently the legally binding
transparency requirements are most detailed for gas transmission systems.
The UN secretary-general, Ban Ki-moon urged all countries to formally sign the agreement to start tackling climate change and step up work toward a legally binding
treaty this year.
Therefore, we have got to drive forward as hard as we can towards both a legally binding
treaty and that ambition," he said.
During the previous NPT review conference in 2000, participants agreed on the importance of legally binding
negative security assurances in the wake of strong demands by non-nuclear states, thus paving the way for formulating an international treaty.
If the board wants to make amends, it can start by making an iron-clad commitment - in writing, and legally binding
- spelling out exactly how the bond proceeds will be spent, and holding themselves accountable.
It would be a precedent-setting shift for the United States to endorse legally binding
target levels that could take effect within a few years.
Similarly, on 3 December, the Commission made legally binding
commitments taken by GDF Suez to reduce, over the next 25 years, its long-term reservations on French gas import infrastructure capacity to under 50% by 1 October 2014.
Hundreds of millions of people have shown their support for a strong, legally binding
outcome, through actions in person and online.