EU dithers over climate fund

Cape Times 8 May 2012.

EU nations are dithering over how to fill a multibillion-euro fund to help tackle climate change, just as the region’s executive body hosts talks with countries likely to bear the brunt of extreme weather. The EU recommitted to providing

7.2 billion (R73.4bn) for the fund from 2010 to 2012, according to draft conclusions ahead of a meeting of EU finance ministers next week. But after that, how much cash will flow is unclear as the text, drafted against the backdrop of acute economic crisis in the euro zone, only states the need to “scale up climate finance from 2013 to 2020” without being specific. – Reuters