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1 December 2010 | Interviews | Climate Justice and Energy | COP 16
Right Now
Establishment of a transparent climate finance mechanism urgently needed
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In the past years, the US has systematically blocked any important advance at the international climate talks. At the COP16 on Climate Change in Cancun, Mexico, there is the risk that the country will block the establishment of a global fund to finance climate change adaptation and mitigation in developing countries.
On Tuesday, Karen Orenstein, Friends of the Earth US representative in Cancun, said that the finance pledges included in the Copenhagen Accord of December 2009 (30 billion dollars between 2010-2012 and 100 billion dollars annually by 2020) are arbitrary, and also insufficient. She highlighted that these numbers are extremely low when compared to the war budgets of industrialized countries –the main drivers of the climate crisis.
Orenstein participated in an activity on Climate Finance organized by Friends of the Earth International in Cancun, in parallel to the COP 16 of the UN. The member of FoE US said it was important to establish a global climate fund under the authority of the United Nations Framework Convention on Climate Change, without the involvement of the World Bank.
