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EU strikes climate funding deal | EU strikes climate funding deal |
(10 minutes later) | |
The EU has agreed a conditional deal on how much it will pay to help other countries fight global warming, ahead of a key climate summit in December. | The EU has agreed a conditional deal on how much it will pay to help other countries fight global warming, ahead of a key climate summit in December. |
The EU agreed climate change would need 100bn euros ($148bn; £90bn) a year by 2020, and would pay up to 50bn euros a year, conditional on other nations. | The EU agreed climate change would need 100bn euros ($148bn; £90bn) a year by 2020, and would pay up to 50bn euros a year, conditional on other nations. |
UK PM Gordon Brown said the EU was leading the way with bold proposals. | UK PM Gordon Brown said the EU was leading the way with bold proposals. |
Talks at the EU summit in Brussels had been deadlocked over how EU nations would share its costs. | Talks at the EU summit in Brussels had been deadlocked over how EU nations would share its costs. |
A coalition of nine poorer EU nations had threatened to block a deal unless richer countries paid more. | A coalition of nine poorer EU nations had threatened to block a deal unless richer countries paid more. |
No cost targets for individual EU nations were announced and the initial funding will be voluntary. | No cost targets for individual EU nations were announced and the initial funding will be voluntary. |
Details of how the burden will be shared will be sorted out later by a working group. | Details of how the burden will be shared will be sorted out later by a working group. |
'New momentum' | 'New momentum' |
Mr Brown said the EU climate discussions had been a success. | Mr Brown said the EU climate discussions had been a success. |
Jose Manuel Barroso: 'We need to put our money where our mouth is' | |
"We were aware that if the European Union did not come together to solve some of the impasses, the possibility of a deal at the Copenhagen summit would be a lot less likely." | "We were aware that if the European Union did not come together to solve some of the impasses, the possibility of a deal at the Copenhagen summit would be a lot less likely." |
He said: "The EU is leading the way with bold proposals - do not allow years to go by without action." | He said: "The EU is leading the way with bold proposals - do not allow years to go by without action." |
Mr Brown also announced a "fast track" scheme to reduce carbon emissions. | Mr Brown also announced a "fast track" scheme to reduce carbon emissions. |
This would come in soon after the Copenhagen summit and would cost 5bn to 7bn euros immediately, to come from all richer countries. | This would come in soon after the Copenhagen summit and would cost 5bn to 7bn euros immediately, to come from all richer countries. |
He insisted that all these funding targets would be conditional on other richer countries making funding offers and on developing countries showing how they would spend the money. | He insisted that all these funding targets would be conditional on other richer countries making funding offers and on developing countries showing how they would spend the money. |
European Commission President Jose Manuel Barroso said the agreement was "an important breakthrough that brings new momentum". | European Commission President Jose Manuel Barroso said the agreement was "an important breakthrough that brings new momentum". |
He said the EU nations had "agreed a negotiating mandate" for the Copenhagen climate talks. | He said the EU nations had "agreed a negotiating mandate" for the Copenhagen climate talks. |