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Sunday, July 26, 2009

Climate Change Conference (COP15) : U.N. Seeks $10 Billion Aid As Good Start To Climate Pact

Aid of $10 billion from rich nations would be a "good beginning" to launch a U.N. climate treaty due to be agreed in Copenhagen in December, the United Nations' top climate official said on Thursday report Reuters.

Yvo de Boer, head of the U.N. Climate Change Secretariat, also told the BBC World Service in an interview that rich countries needed to pledge deep cuts in greenhouse gas emissions by 2020 and the poor had to slow the rise in their emissions.

"If we can get in Copenhagen something like 10 billion euros or dollars on the table that will allow developing countries to begin preparing national plans to limit their emissions and adapt to climate change, then that would be a good beginning," he said.

"But even more importantly, Copenhagen has to agree an architecture, a burden-sharing formula, that will allow us to share out the costs of climate action among countries as the needs increase over time," he added.

Costs of fighting climate change in the longer term could be up to $200 billion a year, according to U.N. projections.

Developing nations say the rich have to show willingness to give cash to launch a new U.N pact to succeed the Kyoto Protocol beyond 2012.

Many developing nations are likely to be hardest hit by climate change such as more droughts, disease, floods, heat waves and rising sea levels.

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