EU criticised for 'inadequate' climate fund

The European Commission has proposed that the EU pay as little as €2 billion a year to fund third world carbon reduction measures and adaptation to unavoidable climate change.

Climate finance for the third world has become the main focus of discussion in the lead-up to the Copenhagen climate change summit in December. If the EU and US stump up significant chunks of cash for cutting emissions and climate adaptation, developing countries may in return commit to considerable CO2 reductions...