Commonwealth Agrees to Global Warming Fund
by The Commonwealth nations have agreed to an annual fund for developing nations to help combat global warming.
Commonwealth leaders have backed a UK and French proposal for greater funding for developing nations, in regards to combating climate change and reducing greenhouse gases. The fund would begin next year and build to $10 billion by 2012.
The leaders unanimously agreed to a legally binding international agreement, but accepted that it may have to wait until 2010.
Commonwealth leaders “welcomed the initiative to establish, as part of a comprehensive agreement, a Copenhagen Launch Fund starting in 2010 and building to a level of resources of $10 billion annually by 2012,” a statement in Trinidad on Saturday said.
UK Foreign Secretary David Miliband said the declaration sent a clear political message.
“The Commonwealth is showing that you can find some common ground amidst countries that are very different, large and small, rich and poor, and that climate change is an issue that affects us all, and that the world needs to show the sort of resolution that we’ve seen here over the past 24 hours,” he said.
Source: BBC
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