Copenhagen climate accord faces $30 billion aid test

January 25th, 2010 · No Comments

Now we will see whether our leaders will stick to their comittments from the shambolic Copenhagen Conference:

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Donors will probably have to decide for themselves how to spend money in 2010 since there is no mechanism to guide handouts. A “Copenhagen Green Climate Fund,” also planned by last month’s low-ambition summit, does not yet exist.

“The expectation is that donor countries will deliver through existing bilateral and multilateral channels of their own choosing,” Elliot Diringer of the Pew Center on Global Climate Change said of the fast-track funds.

“There are some legal hiccups created by the accord not being a (U.N.) instrument,” said Gordon Shepherd, director of international policy at the WWF environmental group. But he said a flow of funds could help build trust between rich and poor.

Read the complete article here:

http://www.reuters.com/article/idUSTRE60O31020100125