• Poorer countries to receive fast-tracked support• Prime minister pledges £800m from BritainGordon Brown has unveiled a $22bn (£13.3bn) global fund to respond to the world's "climate emergency" by fast-tracking funds to poorer countries from next year.In an intensification of preparations for the Copenhagen summit, which starts on 7 December, the prime minister announced the spending pledge to halt de
forestation, build flood defences and boost renewable supplies in the developing world.The initiative, supported by the US and EU leaders, would involve the use of satellites to ensure that commitments to stop
deforestation were being met.Brown outlined the plan, which is
designed to fast-track support before a €100bn commitment to be built up from 2013, on the opening day of the Commonwealth heads of government meeting in Trinidad and Tobago.The prime minister said Britain would contribute £800m to the Copenhagen Launch Fund. "Together, the collective power of the Commonwealth must be brought together to tackle a new historic injustice, that of climate change. We face a climate emergency: we cannot wait until 2013 to begin taking action," he said.The fund, which would start in the new year, would be worth $10bn a year by 2012, he said, and would be worth $22bn by the time the €100bn fund kicks in from 2013. The new fund will be split two ways:• Adaptation, in which countries such as Bangladesh will receive upfront help for coastal flood defences as they adapt to climate change.• Payment by results, in which countries will take action to reduce future carbon emissions by cutting back on deforestation and building up renewable supplies. Deforestation will be monitored by satellites to ensure illegal loggers do not break government commitments.Brown said it was crucial to win over poorer countries. "While the major cause of high emissions is the activities of the richest countries over many, many years, 90% of future growth in emissions will come fr ...
Try our segmented RSS Feeds
