COP15: Denmark to help finance developing countries' green strategies

Denmark, host of the current UN climate change conference, has earmarked around 0.16 billion euro to help developing countries meet their climate change targets. The deal will go ahead only if other countries also volunteer money for funding.

The money will help developing countries to meet their targets in the short term (from now until 2012), and comes as the European Union agrees that many developing countries are unable to put their climate change strategies into motion without financial help from developed nations. The EU puts the ideal figure of financial aid at around five to seven billion euro.

Denmark’s foreign minister explained that the decision was a clear signal to the international community that change was needed. “Without funding for the poorest countries hit hardest, there will be no climate agreement. The needs are here and now. We will therefore, immediately after the conclusion of an international climate agreement, roll [our] sleeves up and turn debate into action.”

(Source: EU Business)

Published: Thursday, 10th December 2009 by Tom Freeman

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