Britain to pay £60bn to help poor nations cut carbon emissions

Published on Friday 26 June 2009 23:11

BRITISH taxpayers will have to stump up their "fair share" to fight climate change, Prime Minister Gordon Brown warned, as he announced plans for a £60 billion fund to help developing countries cut emissions.

The Prime Minister launched the government's climate change strategy yesterday ahead of crunch climate talks in Copenhagen in December.

He announced a proposal to create a 60bn annual fund to help the poorest countries make the transition to low carbon economies.

Mr Brown also hinted that airfares could have to increase to help raise funds to pay for emissions reduction.

"I will commit the UK now to paying its fair share of the global total of such a financing mechanism," he said. "If we act now, if we act together, if we act with vision and resolve, success at Copenhagen is within reach. But if we falter, the earth itself will be at risk," Mr Brown said at the launch at London Zoo.

"We must help the developing countries adapt to the changes in climate which are already now occurring and which over the next few decades, however much we cut emissions, we cannot now avoid."

He said developed countries will likely need to reduce emissions by at least 80 per cent by 2050, in order to achieve an overall global target of 50 per cent.

The 60bn annual fund would smooth the path for developing countries, who are anxious not to stymie economic growth, to make the transition to using less carbon, he said.

But Mr Brown's remarks drew criticism when it was suggested that ten per cent of this money should come from existing aid budgets, and when he warned there could be hikes on airfares.

"It is important that aviation and maritime emissions are brought into the Copenhagen agreement, and the mechanisms for reducing emissions in these sectors could also potentially yield revenues for climate financing," said Mr Brown.

With airlines struggling during the downturn, it is feared they would be forced to pass the costs on to passengers.

Climate and anti-poverty campaigners had a mixed reaction to the speech.

Oxfam chief executive Barbara Stocking said funding of at least 90bn a year was needed and she condemned the proposal to draw on development aid. "Rich countries must now come forward with the necessary upfront funding for a fair and safe deal," she said.

"Climate change is a problem caused by the rich world but borne overwhelmingly by the poor. It is simply wrong that any solution should involve plundering aid money – even if only 10 per cent.

"If Paul needs money it should not be taken from Peter."

Greenpeace chief scientist Doug Parr said of Mr Brown: "By becoming the first major leader to put a figure on how much money is needed he has shown signs of leadership on climate change that have so far been sorely lacking."

About 200 countries will meet in Copenhagen in December to negotiate a successor to the Kyoto Protocol.