Green Fund possible in Bonn
Taken from the COP15-website. Good news! The principles of the Greenhouse Development Rights could be (at least in part) be included in a future protocol. Here is the article:
The Mexican President, Felipe Calderón. has long been promoting a ”Green Fund” to improve energy efficiency and cover the costs of environmental programs.
The idea ”has been gaining a lot of traction over the last couple of months,” Artur Runge-Metzger, Head of the European Commission’s climate and energy unit, said in an interview in Bonn, according to Bloomberg. Here delegates from 182 countries meet for two weeks of talks to work on a first draft of an international agreement to be clinched in Copenhagen in December.
By widening contributions to include developed as well as undeveloped nations, the Mexican fund proposal may amount to $10 billion a year to help all of them adapt to the effects of global warming, said Fernando Tudela, one of the Mexican authors of the plan, according to Bloomberg.
The fund could be used to pay for all sorts of activities, including increasing the use of energy efficient lighting in homes and businesses and capturing power plant emissions and storing them underground.
Poorer countries would receive more than they put in, and there would be a cap on what a single nation would get. The fund would be supervised by member states of the United Nations Framework Convention on Climate Change.
Mexico is not the only country to propose a climate fund. Norway, for instance, has proposed the establishing of a fund that receives part of the proceeds of auctions in developed nations of allowances to emit carbon dioxide. And a Swiss proposal for a carbon tax suggests increasing direct contributions, mainly by developed countries.