The Group was mandated by the UN Secretary-General to identify new, innovative and additional sources of financing to meet the goal set by industrialized countries at the UN Climate Change Conference in Copenhagen in December 2009 of US$100 billion a year by 2020. Those funds aim to assist developing countries to bolster climate resilience, curb greenhouse gas (GHG) emissions and strengthen sustainable development. The Group’s final report outlines financing options that the Advisory Group indicates are both financially feasible and politically viable. Prime Ministers Jens Stoltenberg of Norway and Meles Zenawi of Ethiopia, speaking as Co-Chairs of the High-Level Advisory Group, said meeting that goal by 2020 would be a “challenging but feasible” task.
Posted on November 9, 2010 by suzall