Copenhagen (day 8): Innovative Financing Package Emerges

Ethiopia’s president Meles Zinawe today is set to propose a package of innovative financing mechanisms that could be introduced to enable industrialized nations to finance poor countries’ mitigation against the effects of climate change. The innovative financing measures could include a global tax on aviation fuel, a global tax on shipping fuel, and a global levy on bank transactions. The proposal follows reluctance among wealthy nations to provide funds up front.   The EU already has said it will pay its “fair share” of the post 2012...

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