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EU to propose €150bn climate tax on rich nations

  • 24-01-2009 12:13pm
    #1
    Run_to_da_hills
    Closed Accounts Posts: 20,009 ✭✭✭✭


    Rich nations could raise €150 billion in climate funds through a levy on their greenhouse gases from 2013-2020 to help poor countries prepare for global warming, the European Union will say next week. (The Poor countries would now include countries like Ireland.:D)

    The plan is set out in an EU paper outlining the union’s position ahead of UN-led climate talks in Copenhagen in December, meant to agree a new, global climate treaty.

    The fund-raising idea is the most specific yet from any rich country or bloc on how to persuade developing nations to agree binding, concrete steps to slow their greenhouse gas emissions - one of the key obstacles in climate talks so far.

    The draft paper to be published next week, and seen by Reuters, calls on rich countries to pay for developing countries to cut their greenhouse gases, called mitigation, and prepare for unavoidable warming, called adaptation.

    Further Reading
    http://www.irishtimes.com/newspaper/breaking/2009/0122/breaking82.htm


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