$100bn for climate fund necessary

2011-12-07 19:06

Durban - UN secretary general Ban Ki-moon says raising billions of dollars to fight climate change is a necessity, not a luxury, even in financially hard times.

Mobilising $100bn a year, much of it to be channeled through a new Green Climate Fund, is a central issue at the 194-nation UN climate conference being held in South Africa's coastal city of Durban.

Ban said on Wednesday that while many countries are tightening budgets, contributing money to fight climate change is "an imperative. We have to do it".

The United States has blocked suggestions of a levy on international shipping and aviation. It opposes suggestions by a high-ranking panel to impose a tax of $25 for every ton of carbon emissions.

US lead negotiator Todd Stern said on Wednesday that most of the money for green projects should come from private investments.

  • Gungets - 2011-12-08 10:33

    And the money would naturally have to be channeled through the United Nations who will spend all of it on administration. Talk, talk, talk, but no action. How's this for a start. Every one of the delegates that flew to Cop17 (assume 10000km per person - it is probably a lot more) will have produced 2.26 tons of CO2 for the flight and 1/2 a ton for the busses they have travelled on. 2.75 tons each = $68. Start by paying that. Send a bank guaranteed cheques to Gungets Tuft, c/o The Peoples Yacht, Somewhere of Durban. I promise to use the $1.3 million well, none of it on Admin, I promise.

  • Jan - 2011-12-08 12:39

    It is easy to spend other peoples money. The delegates should set the example and make voluntary financial contributions from their own pockets. Since they are so convinced about their facts and the pending disaster it should not be a problem.

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