UK proposes $100bn global climate fund

29 Jun 09

Prime Minster Gordon Brown outlined the UK's vision for a global climate deal on Friday (26 June), calling for $100 billion per year by 2020 to finance adaptation in developing countries. "It is a credible number against which countries can develop their plans," Brown stated, presenting his manifesto for international climate negotiations to take place in Copenhagen in December. The manifesto calls on the world to acknowledge 2°C as the limit to global warming, arguing that global emissions must peak by 2020. The money would come "from a combination of the carbon market, new and additional sources of predictable finance and a limited amount of development aid," according to the prime minister. Moreover, as part of a fair deal between rich and poor countries, the manifesto says developed nations must agree to cut their emissions by at least 80% by 2050 to leave developing countries room to grow, Brown argued. But the larger developing countries will also have to cut their emissions "significantly" below current trajectories, eventually moving to absolute reductions, he argued.
http://www.euractiv.com/en/climate-change/uk-proposes-100bn-global-climate-fund/article-183578