UN WIRE: UN Conference of Parties 16 (COP16) Climate Fund Target Making No Progress

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Veli Albert Kallio

May 3, 2011, 8:23:53 AM5/3/11
to Climateintervention FIPC
The inaction on COP16 commitments implies bad news for the funding of geoengineering.
It seems there is always money to pollute and extract oil rather than to clean up our acts.

After delays, little progress for UN climate fund

Sat Apr 30, 2011 3:09am GMT
* UN-sponsored talks aim to mint climate change fund
* After delays, little progress in Mexico City meeting
* Self-set deadline for fund plan is December
MEXICO CITY, April 29 (Reuters) - Negotiators at a United Nations-sponsored summit on climate change reported little progress on Friday as they try to create a worldwide fund that will help poor nations adapt to new weather realities.
A modest climate change agreement signed last year envisions a "Green Climate Fund" that would parcel out $100 billion a year by 2020.
The resources would help poor countries brace for the effects of climate change while preventing its worst effect by curtailing the use of carbon fuel and preserving green spaces.
Generations of industrial development have poured countless tons of carbon into the atmosphere and created a dangerous greenhouse effect damaging human life, climate scientists say.
Negotiators laid the framework for a sweeping climate deal at the sixteenth such summit on the topic held in the Mexican resort city of Cancun in December.
Now officials are desperate to fulfill those pledges and set the stage for a binding agreement to reverse climate change at the next such meeting planned for Durban, South Africa, in December.
But progress on that comprehensive deal has been slow and labored. The first meeting to work on the Green Climate Fund, originally scheduled for mid-March, was postponed to this week in a typical delay.
The two-day meeting involving 40 countries did not end with much concrete progress as tensions between rich donor countries, which often demand cumbersome oversight, and poor recipients have lingered.
"Members stressed the need for efficiency and effectiveness through clear accountability," the UN panel tasked with climate change work said in a statement. (Reporting by Patrick Rucker; Editing by Eric Walsh)

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