UN asks developing nations for fund
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.