U.N. 'green fund' gains momentum

April 18, 2011 at 9:38 AM   |   Comments

BONN, Germany, April 18 (UPI) -- By supporting the development of a global green energy fund, world leaders have shown their commitment to tackling climate change, an official said in Germany.

The U.N. Framework Convention on Climate Change announced during talks in Bonn, Germany, that 40 members agreed to design a green climate fund to oversee financing for developing countries to build a green economy.

UNFCCC Executive Secretary Christiana Figueres said in a statement the committee was a sign that the world was taking climate issues seriously.

"The transparent, predictable and adequate provision of finance in the long term is essential to ensure that the poor and vulnerable can build themselves a sustainable future in the face of climate change," she said.

The green fund is part of an agreement reached during talks in December in Cancun, Mexico, where industrialized countries agreed to mobilize $100 billion by 2020 to help developing countries.

"The high level of interest among governments in contributing to the design process is a demonstration of the great interest among parties in the green climate fund," Figueres said.

The funding committee has its first meeting next week in Mexico City.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
Hershey's new logo launched, compared to emoji poop
Obamas attend wedding of personal chef
'Fifty Shades of Grey' director's home raided by police
Pakistan PM Nawaz in hiding, death toll reaches 11
Kate Beckinsale joined by Lucas Till in 'The Disappointments Room'
Trending News