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EU pledges USD 10bn to fight global warming

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Friday, Dec 11th, 2009

The European Union nations have pledged EUR 7.2 billion (USD 10.6 billion) to help developing nations fight global warming.

Swedish Prime Minister Fredrik Reinfeldt, whose country holds the EU’s rotating presidency, said on Friday that “the EU total is equal to 2.4 billion euros per year” until 2012.

The announcement was made during an EU summit in Brussels, where European leaders expressed hope that the deal would boost the UN climate discussion in Copenhagen.

Britain, France and German will each contribute 20 percent of the sum. However, in the face of a global financial crisis many European nations failed to live up to expectations.

“(This) really does make possible an agreement where Africa and the developing countries can see that their needs are being taken seriously,” British Prime Minister Gordon Brown said, the Associated Press reported.

“The offer of money today will show we’re serious about dealing with the global problem of climate change,” Brown added, according to the BBC.

The EU leaders also vowed to cut their carbon dioxide emissions by 30 percent of 1990 levels by 2020, should the worlds leading polluter make similar decision. Reinfeldt said Europe was waiting for deeper emission cuts from the US and Canada.

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This article was posted: Friday, December 11, 2009 at 11:10 am





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