Funds Crucial to Fight Climate Change, Stress Developing Nations  

Brazil, China, India and South Africa have claimed that funding will be crucial to an effective result in the climate change negotiations scheduled to take place in Cancun, Mexico, later this year.

Environmental ministers from the top four developing nations wrapped up a two-day meeting in Rio de Janeiro this week in which they stressed the need for detailed and comprehensive information on fast start financing by developed countries to curb the effects of climate change.

In a statement, the ministers reaffirmed their support for the G77 and China proposal regarding the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC).

They also expressed their appreciation for the convergence within the negotiations on the creation of a new fund to fight climate change. They were of the view, too, that public financing should play the major role as a predictable source of financing.

Brazil, China, India and South Africa demanded the UN Secretary-General ó s High-level Advisory Group on Climate Change Financing to fulfill the expectations of developing countries and be in accordance with the principles of the UNFCCC.

The meeting further highlighted the importance of achieving a balanced outcome in Cancun, something developed countries failed to do in Copenhagen.

The next round of talks will be held in China in October ahead of the Mexico negotiations in November

Source: PL