EU Cheque for Climate Change
The European Union is prepared to put its money where its mouth is with a ‘green’ cheque for between one and three billion euros reports the Financial Times Deutschland.
The monetary commitment is ready to be revealed at the 15th United Nations Climate Change Conference which is currently underway in Copenhagen. It is said, according to a diplomatic source which was unnamed, to be a sign of good faith from the EU and is targetted at climate change mitigation and adaptation in vulnerable third world countries.
News agency AFP also ran with the story, although they said the amount the EU was prepared to spend, between 2010 and 2012, was being kept secret. Their source was a draft text of the commitment said to come from the EU.
The Financial Times Deutschland speculated that money is deemed necessary as a sign of the EU’s belief that support is desperately needed for those countries being affected by climate change now. It is also reported that the EU recognise that their contribution is barely a drop in the ocean against what the final bill might be.
Tags: European Union, United Nations
