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Wednesday, 31 March 2010

EU official warns climate aid 'will not come for free'

China and India's hesitation to formally back a Copenhagen climate agreement could jeopardise $30 billion of climate aid to the developing world, a senior European Union official said. Copenhagen Accord for fighting climate change, two months after it was agreed at a summit in December, documents showed. China, India and Russia are the largest greenhouse gas emitters yet to make clear if they fully endorse the deal, which sets a goal of limiting a rise in world temperatures to less than two degrees Celsius. Under the non-binding pact, rich nations also plan to give $30 billion in climate aid from 2010-12, rising to $100 billion a year from 2020, largely channelled through a 'Copenhagen Green Climate Fund'. Karl Falkenberg, director-general for environment at the European Commission, said on Wednesday that the fund would be only available "in the context of an international framework that leads to the reduction of CO2 emissions".

Source: Euractiv