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People & Business :: Green Issues

Climate Change: EU Poised to Set Aside Funds for Developing Nations

4:25 AM MDT | September 8, 2009 | Alex Scott

The European Union (EU) could provide up to 30% of the money required by developing nations to reduce their greenhouse gas emissions (GHG) to a sustainable level, according to a draft European Commission report seen by Reuters. The money made available to developing countries by the EU could exceed €66 billion each year. U.K. prime minister Gordon Brown, however, is calling for $100 billion/year to be made available to poor nations by 2020.   "It could be natural to assign this new finance to a new fund set up under the U.N. Framework Convention on...

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