The European summit in Brussels has produced a funding pledge from the leaders, aimed at encouraging the participants in the Copenhagen Climate change negotiations to produce a global agreement. Asked if these resources were new or old, the outgoing Swedish EU presidency said that is relative. The bloc is presenting this as innovative financing for “climate adapatation”.
Swedish Prime Minister Fredrik Reinfeldt said: “The total EU figure amounts to 2.4 billion euros per year and it was also possible through the night to get contribution from all 27 member states and from the Commission.”
The 7.2 billion euros is to be given to developing economies to deal with climate change before any deal agreed at talks in Copenhagen takes effect.
But some politicians and non-governmental organisations have criticised this as deceptive, saying the promise is no more than already allocated national development aid proffered under a different name.
Reinhard Bütikofer, MEP in the Greens group said:
“Europe is obviously not putting on the table 7.2 billion additional help for climate adaptation but is just taking away some old funds and painting them green so to speak, which is in a way selling short the developing countries.”
In line with its role as number one donor, in 2008, the EU says it provided 49 billion euros in Official Development Assistance, approximately 60 percent of all global aid.