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EU climate fund pledges reach 3 billion euros
Published in Saudi Press Agency on 10 - 12 - 2009


European Union governments have so far pledged a
total of about 3 billion euros (4.4 billion dollars) over three years
to a global fund aimed at helping poor nations cope with climate
change, according to dpa.
The total is based on statements from eight of the EU"s 27 member
states. Heavyweights Germany, France and Italy have yet to announce
their voluntary contributions to the kitty. The biggest single
contribution so far - 883 million euros - has come from Britain.
The EU has quantified the amount of immediate funding that will be
needed from rich countries at 5-7 billion euros (7.4-10.3 billion
dollars) per year between 2010 and 2012.
The United Nations" climate chief, Yvo de Boer, said at at current
climate change conference in Copenhagen that about 10 billion dollars
in "fast-start" funds are needed.
Long-term aid aimed at helping developing nations mitigate and
adapt to global warming are estimated at between 100 and 300 billion
dollars a year by 2020.
Officials in Brussels were expected to announce an updated
EU total at the end of Thursday"s talks by the bloc"s heads of state
and government.
"I will definitely ask for contributions, which will be
voluntary," Swedish Prime Minister Fredrik Reinfeldt, whose country
holds the EU"s rotating presidency, said at the start of the Brussels
summit.
The EU says it is at the forefront of the fight against climate
change, having vowed to unilaterally cut its own emissions by 20 per
cent against 1990 levels by 2020.
It is also offering to deepen the cuts to 30 per cent, but only if
comparable pledges are made by other major emitters.
Environmentalists want the EU to step up its ambition and go
for the 30 per cent figure, but European businesses oppose this.
The arrival of EU heads of state and government at the council
building in Brussels was briefly disrupted by a group of Greenpeace
activists, who eluded security and called on leaders to work towards
"the strongest possible agreement in Copenhagen."


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