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African Union climate negotiator Meles Zenawi has scaled back the demands for climate finance from rich countries, signaling thaw under way in the deadlocked UN negotiations.

Rie Jerichow16/12/2009 16:20
Earlier this week, British Prime Minister Gordon Brown met with Ethiopia’s Prime Minister and African Union climate negotiator Meles Zenawi. On Wednesday Brown said that Zenawi would soon come up with a proposal that could be an important step forward. So he did.

Meles Zenawi has announced that he supports 100 billion US dollars annual funds by 2020 from rich countries to help the poor world fight and adapt to climate changes. The EU has estimated that the developing countries will need 150 billion dollars.

“On long-term financing, I propose funding for adaptation and mitigation (emissions curbs) should start by 2013, to reach up to 50 billion dollars per annum by 2015 and 100 billion dollars per annum by 2020,” he said on behalf of the African group, according to Reuters.

“No less than 50 percent should be allocated to adaptation to vulnerable and poor countries and regions such as African and small islands states,” Meles Zenawi added.

Meles Zenawi hinted that Africa would not insist on public money. In his proposal, funding would be financed by creative financing mechanisms including carbon taxes and sales of emissions rights, Reuters reports.

“I know my proposal today will disappoint some Africans. My proposal scales back our expectation with respect to the level of funding in return for more reliable funding,” the African Union climate negotiator said. (Photo: Scanpix/AFP)

Source: en.cop15.dk