Europe Funds Climate Initiatives in Developing Countries

The European Investment Bank (EIB; Luxembourg) and the European Union (EU) said they have agreed to explore a joint climate finance initiative to provide funds for developing countries. The finance mechanism being discussed by the organizations represents part of the EU’s commitment made at the Copenhagen climate summit in December 2009 to assist developing countries to mitigate against global warming. “Adequate finance is crucial to agreeing and implementing an international agreement limiting global warming to 2 °C,” says Connie Hedegaard, European...

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