EU Agrees on Formula for Copenhagen
- Posted by Harsh Paul in Climate change, Earth, Pollution prevention
Oct 30,2009
As the Copenhagen talks draw near, nations are working to set their goals and agenda for the summit. So far, a major point of contention has been the demand by developing nations that developed countries subsidize, or pay for their environment efforts. The demand is on grounds that developed countries have contributed greatly to pollution with their industries, and should pay developing countries so their efforts at development are not hampered by environmental norms.
The two day EU summit managed to reach an agreement on climate finance. It is expected that developing nations will need 100 billion euros by 2020 to combat climate change, and up to 50 billion of this amount may have to come from the purse of rich nations.
The summit agreed on a formula to split the bill amongst the 27 EU nations. This formula takes into account a country’s “ability to pay” and will foot the bill accordingly. European Union also pledged to cut emissions to 30% below 1990 levels by 2020 if other countries took a similar stance. Clearly though, the success of the Copenhagen talks is dependent on the money and finance aspect.
Source: Reuters
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2 Responses to “EU Agrees on Formula for Copenhagen”
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A NEW WORLD POWER IS COMING TO YOUR NEIGHBORHOOD:
Jealousies have found fertile soil in the UN for the launch of a retaliation against America.
From Norway to Gambia, dubious motives will use fear of climate change, and Copenhagen in an attempt to create a new world power.
http://pacificgatepost.com/2009/10/un-new-world-power-through-climate.html
You can’t afford it.
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The EU is really trying hard to meet the world’s expectations of reducing significant emissions specially since European countries like Germany and Spain are also the world’s biggest carbon emitters. You might want to read this article about EU’s renewable energy goals:
http://www.ecoseed.org/en/general-green-news/features/in-depth/4483-eu-tries-to-set-a-green-example
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