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Wednesday, 02 December 2009

Gordon Brown proposes £10 billion fund to fight climate change

Gordon Brown proposed a new global fund today to "kickstart" the Copenhagen climate change process and encourages poorer countries to start cutting greenhouse gas emissions immediately. Just days ahead of the vital UN-sponsored climate change conference in the Danish capital, Mr Brown proposed a £10 billion rich-world fund - to which Britain would contribute £800 million-to give incentives to developing countries to halt deforestation, develop low-carbon energy sources and prepare for the effects of a warmer climate. The Copenhagen Launch Fund would cover the years 2010/12 and deliver funds to poorer states on a "payment by results" system, under which those which showed they were taking action to halt climate change would receive more cash. Mr Brown said the Launch Fund would allow the world to break the "deadlock" over a deal at Copenhagen and "get moving on climate change as quickly as possible".

Source: The Independent