Commission unveils first climate aid blueprint
The EU could offer 2-15 billion euros a year to help developing countries fight climate change and adapt to its predicted devastating consequences, the European Commission said yesterday (10 September)
The EU could offer 2-15 billion euros a year to help developing countries fight climate change and adapt to its predicted devastating consequences, the European Commission said yesterday (10 September).
"The EU is moving and we hope other developed countries will follow," Environment Commissioner Stavros Dimas stated, presenting a blueprint for scaling up international finance in support of developing countries.
The move represented an attempt to unblock stalled negotiations over a global treaty to replace the Kyoto Protocol on climate change, due to be agreed at the end of the year in Copenhagen.
The Commission estimates that developing countries' overall financing needs will hit €100 billion a year by 2020, if an ambitious agreement is reached in Copenhagen.
The EU executive foresees that between €22-50 billion will come from the international public sector.Emissions reductions in core sectors - industry, energy, agriculture and deforestation - would require €10-€20 billion, according to the Commission's proposal.
Adaptation would take up €10-24bn, while €1-3bn is foreseen both for boosting capacity building and research respectively.
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