EU struggles to find a climate course, COP 15

Release Date: 2009-03-04

European ministers of environment left the question on climate funding for their financial colleagues to sort out next week.

While urging other parts of the world to follow EU’s example on climate legislation, European legislators are split internally on how to finance major parts of the measures deemed necessary to combat climate change.

On Monday, EU’s environment ministers agreed on the importance of both bilateral and multilateral funding for climate change, and debated two funding options. Commitments to concrete figures, however, remained elusive.

European finance ministers are expected to discuss the matter when they meet next Tuesday in Brussels, but decisions are not expected until the EU summit on 19-20 March.

In an attempt to pressure other wealthy nations the environment ministers called on developed countries to set targets for greenhouse gas emissions by the middle of this year. The EU has pledged to cut its emissions by 20 percent by 2020, a target that will possibly be raised to 30 percent if other countries join in.

The ministers also stated that they would like other rich countries to pass measures similar to the climate and energy package the EU agreed last year. They were, however, divided over exactly what a “similar” commitment would be.

Furthermore, several EU member states are currently caught up in a skirmish over the European Commission’s financial backing for carbon capture and storage technology.

Type:	NORMAL
Company:	COP 15
Country:	Denmark
Url:	http://en.cop15.dk/news/view+news?newsid=809