Thursday, December 10, 2009

Denmark agrees to do its bit...

Denmark (host nation, to the climate summit) is one of the first countries in the world to earmark financing for developing nations to strengthen their capacities to combat climate change in the short run, as per Danish government.

Provided there is a global climate deal and other countries pay their share too, Denmark will fund 0.16 billion euro to help developing countries strengthen their capacities to tackle climate change in the short term (2010-2012).

The Danish funding is in line with EU’s opinion that a deal is needed on both “fast start” financing for developing countries from 2010-2012, followed by a significant scaling up of public and private financial flows to developing countries from 2013. EU has estimated the need for 2010-2012 to 5 to 7 billion euro, according to EU Business.

In a press release, the Danish government states that Denmark in this way would contribute to immediate action taking place in developing countries shortly after the climate change conference.

Ulla Tørnæs, the Danish Minister , stated that their aim is to send a clear signal to other nations that finance is needed on the negotiating table in Copenhagen, targeting the least developed countries that are to be hardest hit by climate change, without which no climate deal would prove benefiicial.

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