EU Ready to Shoulder a Quarter of Global Climate Funding

EurActiv (9/8) – The EU is prepared to put up to 30% of the money required at global level to finance an ambitious post-Kyoto climate treaty and overcome the current standoff in the negotiations, a draft European Commission document shows. The paper outlines the financing needs of developing countries for climate change mitigation and adaptation and sketches out a scheme of how the burden might be shared among developed countries. The Commission plans to present the paper in the coming days, possibly as early as 10 September.