07 Oct '11, 12am

[News] Business Green: Rich and poor nations clash over climate finance deal

Negotiators from developing and industrialised countries have again clashed at the latest round of UN climate change negotiations in Panama, with the group of African and Least Developed Countries (LDCs) accusing the US and Japan of obstructing negotiations on proposed funding for climate-related projects. The group yesterday issued a statement complaining that industrialised nations were refusing to negotiate on proposals to create a $100bn a year global climate fund, arguing the commitment to create a fund was finalised at last year's Cancun Summit and responsibility for developing proposals on how the fund will operate has been handed to a separate taskforce. FURTHER READING G77 and China insists continuation of Kyoto Protocol not up for negotiation PwC's Panama Preview This interpretation was rejected by the African and LDC group, which accused rich nations of delibera...

Full article: http://www.businessgreen.com/bg/news/2115308/panama-rich-...

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