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Group formed to seek climate change financing
Published in Saudi Press Agency on 12 - 02 - 2010


Prime Ministers Gordon Brown of Britain and
Meles Zenawi of Ethiopia have accepted to co-chair a high level
advisory group responsible for climate change financing, dpa cited UN Secretary
General Ban Ki-moon as saying today.
"Its mission is to mobilize the financial resources for climate
change pledged at the recent United Nations Climate Change Conference
in Copenhagen," Ban said in announcing the new group.
He said other members will include heads of state and government,
high-level officials from ministries and Central Banks, as well as
experts on public finance, development and related issues.
Governments from developing and developed countries will have a
balanced share of responsibility in raising funds.
Ban said the advisory group will develop "practical proposals" to
significantly scale-up both short-term and long-term financing for
mitigation and adaptation strategies in developing countries.
December's climate change summit in Copenhagen ended without a
formal text to succeed the Kyoto Protocol, which expires in 2012. But
governments agreed to mobilize funding both from the public and
private sectors to the tune of 100 billion dollars a year by 2020 to
help countries worldwide fight global warming.
Countries most vulnerable to climate change will have priority
access to the funds, which will be used to support adaptation,
mitigation and technology development and transfer.
The advisory group is to prepare funding programmes to be
submitted to meetings in May and June of the UN Framework Convention
on Climate Change (UNFCCC) whose members will meet in Mexico in
December to make final recommendations on the use of the funds.


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