EU Rich Nations Offer Billions to EU Poorer Nations in "Fast Track" Climate Scheme

GlobeTracker| The EU has agreed upon a conditional deal, based on a “bold proposal” says UK PM Gordon Brown, to help other nations fight global warming. The BBC reports that the accord, which was previously threatened by a coalition of nine poorer EU nations, has been bridged with an agreement that cost burden sharing will be sorted out later by a working group.

The EU said the amount to come from public funding from all countries to meet the estimated 100bn euros a year needed by 2020 would be between 22bn and 50bn euros a year, saying the EU will pay its “fair share”.

PM Brown announced a “fast track” scheme to reduce carbon emissions, with the richest countries providing development finance to the poorest.

The sum would be delivered soon after the Copenhagen summit and would cost 5bn to 7bn euros, all provided by rich EU countries. via BBC News