Climate Change: EU May Offer Developing Countries $21.8 Billion/Year (update)

The European Union (EU) has put forward a proposal to offer developing nations up to €15 billion/year ($21.8 billion) to help them reduce greenhouse gas (GHG) emissions and adapt to the adverse impact of climate change. The funding will be made available depending upon the commitment of developing nations to reduce GHG emissions at the Copenhagen climate summit. The sum is much lower than had been widely anticipated and called for by environmental groups. The EU’s proposal, introduced by Stavros Dimas, Europe’s environment commissioner, pegs...

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