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Thursday, 15 November 2012

EU Finance Ministers reaffirm their commitment to fast start finance

EU Finance Ministers meeting in Brussels, Belgium reaffirmed on November 13 their commitment to fast start finance, an agreement between the developed countries to strengthen their resilience to climate change and mitigate their greenhouse gas emissions, signed during the Conference of the Parties (COP15) held in December 2009 in Copenhagen.
The ministers stressed the importance of fast-start finance for the immediate implementation of the Cancun Agreements and endorsed the "fast-start measures" to be presented at the UNFCCC Conference of the Parties (COP 18) from 26 November till 7 December 2012 in Doha and the indicative list of individual actions funded.  
They also underlined that the EU will continue to take into account the needs of the particularly vulnerable developing countries, including the Small Islands Developing States, the Least Developed Countries and Africa.
To date, a total of €7.1 billion has been mobilized by the EU to meet its fast-start commitment.

 

Source: Council of the European Union

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