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WORLD> Europe
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Brown proposes $100B annual climate fund
(Agencies)
Updated: 2009-06-26 22:18 LONDON: Developed countries must contribute collectively to a $100 billion annual fund to fight climate change in developing countries by 2020, UK Prime Minister Gordon Brown said on Friday.
"I propose we take a working figure for this purpose of around $100 billion per annum by 2020," Brown said in London. "If we are to achieve an agreement in Copenhagen I believe we must move the debate from a stand-off over hypothetical figures." Britain for the first time gave its support for a Norwegian proposal, being considered by the European Union, to levy a charge on national emissions rights allocated to rich countries under a new climate agreement after 2012. Brown also said some of the $100 billion fund could be raised from international aviation and shipping, for example from taxing or including these in emissions trading markets. Funds might also be raised through government-backed bonds to protect forests. Britain's other targets for the Copenhagen talks included a 2 degees Celsius limit in global warming, achieved by at least a halving of global greenhouse gas emissions by 2050 and an 80 percent cut by developed countries. |
