By Avery Fellow, Bloomberg Daily Environment Report, 3 December 2012
Developing countries are seeking increased pledges from wealthier countries for climate mitigation and adaptation financing at international climate negotiations in Doha, Qatar, observers of the talks said Nov. 30. The G77, or group of 77 developing countries within the United Nations, proposed at the 18th Conference of the Parties to the U.N. Framework Convention on Climate Change (COP-18) that developed countries raise $60 billion a year starting in 2013 for “medium-term” climate assistance as they scale up to offering $100 billion a year by 2020, observers said. (…)
Developed countries initially promised to direct at least 50 percent of pledged funds to climate adaptation, said Alexander Ochs, director of climate and energy at the Worldwatch Institute. (…)
Ochs said he did not expect a global deal on climate finance in Doha. “I do not think in this negotiation round we will see a full agreement on how to bridge the gap between 2012 and 2020,” he said. “I’m hoping that countries fill the current gap … [and] individual countries start putting money on the table for 2012 to 2020. But I do not expect a global deal on the issue.” (…)
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