$30 bil. set to help developing world cut CO2
8, 2009 - McClatchy-Tribune Regional News - Hiroko Kono The Yomiuri Shimbune.
nations at the U.N. climate change conference are set to agree on providing $10
billion a year for three years from 2010 to developing nations striving to achieve
greenhouse gas reductions, sources said.
Various estimates vary on how much
is needed to support developing countries, but if realized, the $10 billion would
be the first time developed nations have agreed on a specific amount.
specific contributions from each country to the amount will be hammered out later,
the sources said.
Louise Hand, Australia's chief negotiator at the 15th
Conference of Parties to the Framework Convention on Climate Change (COP15), said
in a speech Monday on behalf of a group of advanced countries including Japan,
the United States and Canada, but not the European Union, that "there is an emerging
consensus that a core element of the Copenhagen accord should be to mobilize $10
billion a year by 2012 to support adaptation and mitigation in developing countries,
particularly the most vulnerable and least developed countries that could be destabilized
by the impacts of climate change."
Jonathan Pershing, U.S. deputy special
envoy for climate change, made similar remarks at a press conference the same
The secretariat of the convention and the World Bank have said a massive
amount of money will be needed to support developing nations' efforts to combat
greenhouse gas emissions.