Friday

23rd Jun 2017

UK, France want fifth of third world climate cash for forests

Britain and France want a fifth of the climate cash rich countries plan to give to the developing world to be exclusively devoted to stopping deforestation.

The EU on Thursday committed to an offer of around €7 billion for so-called fast-start climate financing - monies to cover the needs of third world countries in tackling climate change and limiting their carbon emissions growth for the next three years before any new global climate regime is in place after the Kyoto Protocol expires in 2013.

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  • Britain and France want a focus on deforestation by any countries that receive EU climate cash (Photo: Wikipedia)

Over the longer term, the European Commission has suggested that the EU spend between €2 and €15 in public funds by 2020 for long-term climate financing for poorer countries, although the member states have still not signed up to any firm figure.

The developing world themselves are looking for a sum more on the scale of €35 billion a year by then.

But in a new formulation, UK Prime Minister Gordon Brown standing alongside French President told reporters that 20 percent of fast-start funding be set aside specifically for anti-deforestation measures.

Until now, there has been no discussion about setting aside any amount of money for specific forms of climate change adaptation or mitigating carbon emissions growth.

"Rainforest countries need the security of finance now and for the coming years," the two leaders said in a joint statement.

They added that they wish to see included in any Copenhagen agreement that the world agree to a reduction of deforestation of 25 percent by 2015, leading to a 50 percent reduction by 2020 and a complete halt by 2030.

"The developed world should pay for the majority of this, supporting developing countries' own efforts," they both said.

Mr Brown also put on the table a new timetable, saying that all rich countries should offer €25 billion a year over the 2010-2015 period for forests - a timetable that for the first time combines the fast-start climate monies and the longer term post-Kyoto cash.

Next Wednesday, President Sarkozy is organising a meeting in Paris with rainforest countries of the Congo basin specifically dealing with the problem of deforestation within the context of a possible Copenhagen agreement. Mr Brown said he would atttend as well.

US leaves Paris climate deal

Trump said Paris deal “punishes the United States”, even though treaty leaves it up to nations to determine own climate contribution.

Trump delays climate decision

The White House said it would take more time to decide if the US should remain part of the Paris climate agreement, while talks are underway in Bonn.

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