UN asks de­vel­op­ing na­tions for fund

Down to Earth - - THE FORTNIGHT -

IN AN unusual de­ci­sion, the United Na­tions is look­ing to de­vel­op­ing coun­tries for con­tri­bu­tion to its Green Cli­mate Fund. The fund, which aims to raise $10-15 bil­lion by the end of 2014, was set up to help low-in­come coun­tries mit­i­gate cli­mate change im­pacts. UN-spon­sored cli­mate change ne­go­ti­a­tions tra­di­tion­ally place the fi­nan­cial bur­den on coun­tries deemed in­dus­tri­alised in 1992.

As a re­sult, In­dia, China and Brazil de­clined to at­tend the cli­mate fund's first ma­jor meet­ing last month in Oslo. In fact, In­dia's en­vi­ron­ment min­is­ter Prakash Javadekar has made it clear that the suc­cess of 2015 UN deal in Paris will de­pend on whether rich coun­tries de­liver on their fi­nance pledges.

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