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The Low Carbon Economy Ltd

29 Jun 2009 10:06:05

UK prime minister urges rich nations to fund global effort on emissions

UK prime minister urges rich nations to fund global effort on emissions
Gordon Brown has called on the world's richest countries to put up $100 billion (£61 billion) a year to help economically developing nations cope with climate change.

Speaking in London, the UK prime minister said that funding would help smooth the way for UN talks on carbon emissions scheduled to take place in Copenhagen later this year.

"If we are to achieve an agreement in Copenhagen, I believe we must move the debate from a stand-off over hypothetical figures to active negotiation on real mitigation actions and real contributions," he said.

Under the new proposals, funding would begin in 2013 and rise to $100 billion by 2020; it would come from a combination of carbon trading markets, development aid and "additional sources of predictable finance".

"An ambitious agreement in Copenhagen is certainly achievable. And yet it remains far from certain," Mr Brown continued.

He warned that delayed action would hinder investment into the low-carbon economy and leave the world confined to a "higher emissions pathway".

Last month, Reuters reported that the world's 17 largest economies are ready to agree to a target of reducing global greenhouse gas emissions by 50 percent by 2050.



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