As for technology transfer, the Convention does not specify the terms of the transfers, such as whether they should be made on commercial or non-commercial terms. The Convention establishes institutions to support efforts to carry out commitments and to monitor compliance . It will meet for the first time in March 1995 and on a yearly basis thereafter. The COP can also set up additional bodies if it so decides. The Climate Change Convention is a major step forward in the international response to climate change.
Much work remains to be done, however.
Many states still need to ratify the Convention and formulate national laws and policies that will enable them to meet their commitments. The COP itself will have an enormous amount of work to do to ensure that the Convention is a success in the years and decades to come.