MONEY KEY TO TACKLING CLIMATE CHANGE
Baku, September 3 (AZERTAC). Ministers from 45 countries are meeting to discuss the long-term financing of mitigation and adaptation measures needed to tackle climate change. The two-day meeting, which is jointly hosted by the governments of Switzerland and Mexico, hopes to come up with a plan to advance climate negotiations at the forthcoming talks in Cancun, Mexico, in December.
The new executive secretary of the U.N. Framework Convention on Climate Change has been on the job for only two months. But, in that short period of time, Christiana Figueres says events making the news have provided a vision of a future of intense global climate disasters no one wants.
Issues under discussion include a new fund for the environment, ways to bring the private sector into financing and finding new sources of finance.
Figueres says funding for developing countries holds the key to action.
Critics say some of the $30 billion pledged last December at the Climate Conference in Copenhagen was old funding dressed up as new. Figueres says developing countries expect the funding to be completely new and additional.
The United Nations will try again to achieve a Convention during the next Climate Change summit in Cancun, Mexico in December.
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