Gordon Brown Pitches $100 Billion Climate Finance Plan
The world is down to about 160 days until the international climate talks in Copenhagen begin. On the table are short-term and long-term targets for emissions reductions in both the developed world and in developing countries, forest protection, and financing for climate change mitigation and adaptation. To address the financing problem, the UK's Prime Minister Gordon Brown has put forward a proposal for a $100 billion dollar fund.Last week, at the Major Economies Forum, the Mexican government proposed a $10 billion dollar plan for mitigation, adaptation, and technology transfer. The fund would be paid by all countries, but countries in need would get the lion's share of the fund. Prime Minister Gordon Brown's plan goes much further, faster.
The plan was published in "The Road to Copenhagen", a strategy for a global climate deal.
Brown told ambassadors, green groups and business organizations:
"An ambitious agreement in Copenhagen is certainly achievable. And yet it remains far from certain. We cannot allow this to drift - when every year of delay retards investment, locks us into a higher emissions pathway, worsens the impacts on the poorest and most vulnerable, and increases the costs of eventual reduction.
"Copenhagen is twenty-three weeks away. When historians look back on this critical moment, let them say, not that we were the generation that failed our children; but that we had the courage, and the will, to succeed."
Brown proposed that developed countries should funnel $100 billion per year by 2020 to help developing countries address climate change. The fund would cover plans to reduce emissions, protect tropical forests, and adapt to global warming.
Last week, the UK published a report that projected that in the 2080s temperatures could, under a business-as-usual approach, increase to "12 degrees C warmer on the hottest summer days and sea levels could rise by 36 cm."