9 May 2012

EU contributions to the ‘Green Climate Fund’ uncertain after 2012

Negotiations on the amount of money European Union (EU) member states will contribute to the ‘Green Climate Fund’ after 2012 (for the period 2013-2020) have been unsuccessful so far. In light of the economic crisis, some of the EU member states argue against any firm commitment to contribute to the Climate Fund after 2012.

The Green Climate Fund was established by international agreement within the framework of the UN Framework Convention on Climate Change (UNFCCC), aiming to provide financial support for developing States to cope with the effects of climate change. Although the aim of this fund was to raise up to 100 billion dollars a year by 2020, the EU member states have merely given a clear pledge for funding until the end of 2012.

Source: Reuters | EU nations get cold feet over climate change fund