EU funding offer sparks anger at Cancun

In one of the first major announcements at UN climate talks in Cancun, Mexico, the EU has released details of its contribution to ‘fast-start' funding to help poorer nations deal with the adverse effects of climate change over the short-term.

But aid agencies and governments from developing countries quickly rounded on the news when it became clear that roughly half the money would be in the form of loans or equity in local companies, rather than grants.

Wrangling over the ‘fast...