Annual $100 bn funding for climate change possible
New York: A UN advisory group headed by leaders of Norway and Ethiopia said Friday that it would be possible to raise as much as $100 billion a year to fight climate change by 2020.
Norwegian Prime Minister Jens Stoltenberg and his counterpart from Ethiopia Meles Zenawi said in a study that the goal set by industrialised nations to raise the amount could be a challenge, but it is feasible.
The prime ministers, who led an advisory group on climate change financing, gave the study to UN Secretary General Ban Ki-moon at the UN headquarters in New York as part of UN preparations for a new round of climate negotiations scheduled to take place next month in Cancun, Mexico.
Ban said the study contained "financing options that are both financially feasible and politically viable".
"It will need sustained political will, appropriate public policy signals for the markets and financial ingenuity," Ban said in response to the study.
He called on all countries to demonstrate a strong commitment to fight climate change.
Ban also urged the G20 summit in Seoul next week to discuss climate change directly. Ban will take part in the meeting with national leaders of the world`s 20 richest nations.
He said in a letter sent to the G20 summit that the group could lead the way "by delivering on the fast start funding targets for the 2010-2012 period".
Governments attending the climate summit in Copenhagen last December agreed that funding is critical to assist developing countries deal with global warming, including provisions of green technology, which many poor countries cannot afford.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Exiled Kashmiri Pandits share their heart wrenching stories
- Basic ideals of Constitution are in danger: Sonia Gandhi
- PM Modi greets nation on occasion of first Constitution Day
- Manjula Vaghela's journey: From rag picker to head of a firm with Rs 1 cr turnover!
- Indian Army faces shortage of field firing ranges in J&K
- Woman commits suicide after heated discussion with husband over Aamir Khan's intolerance remark
- Setback to Kejriwal-led AAP as MLA Akhilesh Tripathi arrested in riot case
- 10 interesting facts about Constitution which every Indian must know
- See pic: Genelia marks son's birthday!
- Bigg Boss, Day 46: Priya Malik urinates inside the car!