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June 29, 2009

UK's Brown wants $100B a year fund to help poorest nations tackle climate change

LONDON – British Prime Minister Gordon Brown says a yearly fund of $100 billion should be established by 2020 to help the world's poorest nations to tackle climate change.

Brown said on Friday that wealthier nations could raise the funds through the international carbon market and existing development aid.

He said all nations must seek to cut their greenhouse gas emissions to 50 per cent below 1990 levels by 2050.

A report issued Thursday by the Netherlands Environmental Assessment Agency said developing countries are now emitting more than half the world's carbon, the main greenhouse gas blamed for climate change.

Brown said the U.N. climate change conference in Denmark in December must bring a new global pact on reducing emissions.