News | Climate Change

http://www.bloomberg.com/news/2010-07-11/climate-finance-deal-needed-to-break-treaty-deadlock-u-k-s-huhne-says.html

Developed countries must devise a way to channel $100 billion a year in climate aid to poorer nations to secure an international deal to fight global warming, U.K. Energy Secretary Chris Huhne said.

“Helping developing countries tackle climate change is crucial if we are to secure a comprehensive and ambitious deal,” Huhne said in an e-mailed statement released today by his office in London.
Climate finance is one of the keys to unlocking a wider global warming pact, Jake Schmidt, climate policy director for the New York-based Natural Resources Defense Council, said at the last round of United Nations treaty talks in Bonn in June.
In Copenhagen in December, more than 190 nations failed to agree on a treaty, though developed nations said they aim to pay $30 billion in aid over the three years through 2012, ramping the finance up to $100 million a year by 2020.
In the wake of those financial pledges, U.N. Secretary General Ban Ki-moon set up the High Level Advisory Group on Climate Change Financing to advise by November on methods for raising the cash.
Huhne’s comments were made before he meets today in New York with members of the panel, which includes billionaire investor George Soros, Deutsche Bank AG Vice Chairman Caio Koch- Weser and Norwegian Prime Minister Jens Stoltenberg.