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Forget Brown’s Promises: EU Leaders Make Climate Finance Conditional

European Union leaders meeting in Brussels today (24 March) are set to confirm their commitment to providing €2.4 billion in immediate support to help poor nations tackle global warming, but only if other industrialised nations also make similar contributions, according to draft summit conclusions obtained by EurActiv.

“The EU and its member states will implement their commitment to provide €2.4 billion annually over the 2010-2012 period for fast-start financing,” read the draft conclusions of the European Council, which is taking place on 25-26 March.

Speaking at the plenary session of the European Parliament in Brussels, European Commission President José Manuel Barroso stressed the importance of “respecting our pledges on fast-start finance” in order to build trust with developing countries.

EU leaders will discuss climate change issues on Friday, leaving the first day of the meeting for economic debates.

The objective is to agree on “a more step-by-step approach” to further the negotiations at global level, as pointed out by the permanent president of the European Council, Herman Van Rompuy, in his letter of invitation to the summit sent to EU leaders this week.

A more step-by-step approach implies that the EU will abide by its commitments, but will also require parallel moves from other industrialised nations.

Indeed, the EU pledge for €2.4 billion a year in fast-start funding for developing countries will only happen “alongside contributions by other key players,” according to the summit conclusions.

Developing countries are invited to take “meaningful and transparent actions […] to mitigate climate change” in order to benefit from the longer term financial contributions promised by the EU and other developed countries.

Industrialised countries committed in Copenhagen to jointly mobilising $100 billion per year by 2020 to help developing countries in their fight against climate change.

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