International relations

Emerging countries seek climate funding

27 July 2010

Funding will be crucial to an effective result in the climate change negotiations scheduled to take place in Cancun, Mexico later this year, say the environmental ministers of South Africa, Brazil, India and China.

The ministers from the top four developing nations ended a two-day meeting in Rio de Janeiro this week during which they stressed the need for detailed and comprehensive information on fast-start financing by developed countries to curb the effects of climate change.

In a statement released after the meeting, the ministers, including South Africa's environment minister, Buyelwa Sonjica, expressed their concern with the lack of operational guidelines for the provision of financial resources based on the United Nations Framework Convention on Climate Change (UNFCCC) and the "understandings" achieved in Copenhagen last year.

"Ministers reaffirmed their support for the G77 and China proposal regarding the financial mechanism of the UNFCCC and expressed their appreciation for the convergence within the negotiations on the creation of a new fund to fight climate change," the statement read. "They were of the view that public financing should play the major role as a predictable source of financing."

The ministers said the work of the UN Secretary-General's High-level Advisory Group on Climate Change Financing should fulfill the expectations of developing countries and be in accordance with the principles of the UNFCCC.

The meeting further highlighted the importance of achieving a balanced outcome in Cancun, something developed countries failed to do in Copenhagen.

"Ministers emphasised the importance of the unity of the Group of 77 and China and its role in multilateral negotiations, including in the construction and strengthening of the climate change regime".

The next round of talks between the ministers of the four countries will be held in China in October ahead of the Mexico negotiations in November.

Source: BuaNews



	While Africa contributes very little to global warming, the region will be one of the hardest hit by its effects (Photo: Peter Craig-Cooper, South African Tourism)