The EU offered up to $15 billion to aid developing countries cutting emissions and urged rich nations to contribute more.
In an effort to push global climate change talks forward, the European Union this week offered to $15 billion to aid developing countries cutting emissions, and got a mixed response.
Negotiations are in desperate need of a breakthrough. Three months from now, at a UN summit in Copenhagen, world leaders have an opportunity to hammer out a deal that will have lasting repercussions for the health of the planet.
But the deal is danger of falling apart, many experts warn, bogged down by a lack of global financing for curbing emissions, and by disagreements over how rich and poor countries should shoulder responsibility for cutting greenhouse emissions.
If talks goes well, the Copenhagen meeting in December will be a momentous occasion “to create a successor to the Kyoto Protocol, which bound 37 industrial countries to reduce greenhouse gas emissions by 5.2 percent from 1990 levels by 2012,” describes the Associated Press.
But for now, the world’s blueprint for addressing climate change is a mess. A draft treaty of a climate pact is an “unmanageable 200 pages long,” reports Reuters.