Tracking the Copenhagen Cash

by Terrence Murray - March 5, 2010

The World Resources Institute (WRI)�posted this table on their Website tracking funding commitments by industrialized nations to support developing countries cut their CO2 and green house gas emissions. The funding pledge by the industrialized world was about the only firm commitment that came out of the Copenhagen conference last December.

The table is an organic process that’s going to be continually updated with new funding commitments, points out the WRI�s�Maria Athena Ballesteros, who authored the document.

Ballesteros :

The commitments are clear, their delivery is uncertain. WRI has carried out a preliminary analysis based on available information on countries� immediate and long term pledges announced thus far. The accompanying table sets out both the amounts and the mechanisms by which funding would be delivered. WRI has also looked at whether these pledges will provide �new and additional� funds compared to what developed countries already provide through official development assistance.

As part of the agreement forged in Copenhagen developed countries have collectively committed $30 billion (�22 billion /�19.9 billion) over the next three years to help poorer nations cut their own carbon and green house gas emissions.

Long term, by 2020,�the industrialized world has set out an ambitious $100 billion a year funding in support of this “North – South” climate change cooperation.

Specifically, the WRI�table shows, that the European Union (EU) states committed a combined $3.36 billion a year over the next two years in climate change subsidies for the developing world. That’s impressive but actually less than the $5 billion a year Japan has committed.� The U.S., according to the WRI, has committed $1.821 billion for the 2010 and 2011.

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