Experts reckon that the developing countries will need 21 billion euros over the next three years to fight the consequences of climate change. The European Union has now agreed to put up thirty percent of this sum. No decision has yet been made by other states to contribute.
"Germany will contribute in the short term and in the long term to ensuring that the poorer countries of the world have the chance to adjust to climate change,” said Chancellor Angela Merkel.
In the long term more cash will be needed for climate protection measures in developing countries. As of 2020 the EU expects that 100 billion euros a year will be required. "That is the most worrying factor for me,” declared the Chancellor. So far only Europe has offered to bear a part of this sum.
All states will contribute
Angela Merkel deemed the Europeans’ pledge of immediate assistance as a great success, not least because all 27 member states will contribute in line with their own economic situation. This is, "an exceptionally positive sign of our solidarity,” she declared.
In return the developing countries are to undertake in Copenhagen to make concrete and verifiable contributions to reducing CO2 emissions. All in all emissions are to be cut by between 15 and 30 percent by 2020.
Last consultations before Copenhagen
Photo: REGIERUNGonline/Kugler
Swedish Chairman of the EU Council Fredrik Reinfeldt and Chancellor Angela MerkelIn Brussels, the Europeans once again discussed their position for the final round of negotiations in Copenhagen. Their key goal is to keep global warming down to a maximum of two degrees Celsius as compared to the pre-industrial age. If this limit is respected, scientists believe that the Earth can just about cope with the consequences of the greenhouse effect.Two years ago the EU undertook to cut its own greenhouse gas emissions by 20 percent by 2020, taking 1990 as a base year.
Should other industrialised countries and major emerging economies such as China and India agree to comparable targets, the EU is even prepared to go further, and cut emissions by 30 percent. So far, however, the offers on the table fall short of what is required, said Chancellor Angela Merkel, speaking in Brussels. The USA, for instance, has offered no more than four percent cuts by 2020.
Germany is a trail-blazer in CO2 reductions. By 2020 the Federal Republic of Germany will cut its own greenhouse gas emissions by 40 percent, whether or not a binding international agreement is reached.
The financial crisis – another point on the agenda
There was a consensus among all 27 heads of state and government in Brussels that an international financial market transaction tax should be introduced. It is intended to help stem dangerous speculation on the financial markets.
The Europeans believe that the International Monetary Fund should be put in charge of this.
The new-look Europe
Since 1 December the Treaty of Lisbon has been in force in the European Union. It provides new regulations for the organisation and for the way the 27 member states work together.
Thus the acting Swedish Council President Fredrik Reinfeldt will be the last premier of a member state to chair negotiations. The next Council meeting will be chaired by the newly elected permanent Council President Herman Van Rompuy.
