Gordon Brown puts $100bn price tag on climate adaptation
Prime minister attempts to move stalling political talks on global warming away from targets and towards the cost of mitigation
David Adam, environment correspondent | guardian.co.uk, Friday 26 June 2009 15.11 BST
Flooding in Bangladesh: The annual $100bn falls well short of what developing nations have demanded in climate funding. Photograph: Hassan Bipul/DFID
Gordon Brown today attempted to seize the political initiative on climate change by calling for rich countries to hand over $100bn (£60bn) each year to help the developing world cope with the effects of global warming.
In a speech at London zoo, the prime minister said the cash offer was intended to break the political stalemate over a new global deal ongreenhouse gas emissions. He said the "security of our planet and our humanity" rested on such a treaty being agreed at key UN negotiations in Copenhagen in December.
"Over recent years the world has woken to the reality of climate change. But the fact is that we have not yet joined together to act against it.Copenhagen must be the moment we do so," Brown said. "As always, this will involve a calculus of national and collective interests, with each yielding something for the common good."
Aides said the speech was intended to provide fresh momentum to the stalling political talks on global warming. In exchange for greater action on climate as part of a new deal, the developing world wants money to help it cut carbon emissions and adapt to a warmer world. Earlier this month, EU leaders postponed a decision on such funds until October.
Brown said: "If we are to achieve an agreement in Copenhagen, I believe we must move the debate from a stand-off over hypothetical figures to active negotiation on real mitigation actions and real contributions."
Under the plan, funding would begin in 2013 and rise to $100bn a year by 2020. The money would be raised from private and public sources, such as levies on international carbon trading schemes. Developing countries would be able to apply for funds for specific projects. "I would urge the leading developing countries to bring forward ambitious and concrete propositions ... that could be financed by these sources," Brown said.
Brown is expected to discuss the plan with world leaders including Barack Obama. Because the UK will negotiate at Copenhagen as part of the EU-bloc, the suggestion will have to be agreed in Brussels before it could be put forward as a formal offer as part of the Copenhagen negotiations.
The annual $100bn falls well short of what China and other developing nations have demanded in climate funding. The G77 group of nations has suggested that rich countries could hand over 1% of their GDP, a figure that British government sources consider unfeasible. "That's a totally unrealistic number. It doesn't even bring us to the negotiating table," one said.
Green campaigners welcomed the speech but were unhappy with the reliance on carbon markets to generate the necessary funds.
Greenpeace said: "Brown is right when he says the scale of the money on the table for the developing world will make or break Copenhagen. By becoming the first major leader to put a figure on how much money is needed he has shown signs of leadership on climate change that have so far been sorely lacking."
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