UN climate fund looks at shipping and aviation emissions to raise cash
Greenwise Staff
8th June 2010
A UN group looking at ways to raise finance to help poor nations combat climate is looking at many ways to raise cash, including raising money on the back of emissions from aviation and shipping, it has been reported.
The
High-level Advisory Group on Climate Change Financing was set up in March to work out how to raise $100 billion a year from 2020 as part of the
Copenhagen Accord agreed by most nations in December. The aim of the fund is to help the poorest nations adapt to climate change, but the big public deficits faced by developing countries is forcing the group to look at alternative sources of finance, Reuters reported.
Jens Stoltenberg, who has just succeeded former British prime minister Gordon Brown as co-chair of the UN finance group, told Reuters
aviation and
shipping could be an additional source of revenue for the fund.
"We have started work on many different sources of
financing," Stoltenberg said.
International aviation and shipping fall outside the UN Kyoto Protocol, the international treaty to curb greenhouse gases, which expires in 2012. Charging for their
emissions could be one way to raise cash.
Money could also channelled from the
carbon markets, said Stoltenberg.
The group is due to report back in November.
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