EU Seeks Deal on Climate Funding

29 October 2009 (Last Updated October 29th, 2009 18:30)

EU leaders will today try to agree on funding for a global deal to combat climate change after a first day of talks ended in deadlock. Agreement on the last day of an EU summit would aid efforts to reach a deal at global climate change talks in Copenhagen in December. The EU

EU leaders will today try to agree on funding for a global deal to combat climate change after a first day of talks ended in deadlock.

Agreement on the last day of an EU summit would aid efforts to reach a deal at global climate change talks in Copenhagen in December.

The EU’s Swedish presidency drew up revised proposals after talks broke down on Thursday, largely because of a rift between nine countries from eastern Europe and the richer member states over how the burden should be shared, reports Reuters.

“It is extremely important that the EU keeps the leadership role we have had,” Jose Manuel Barrosothe, president of the European Commission, said.

Developing countries have said they will not sign up to tackling climate change without enough funds from rich nations.

A draft statement at the Brussels summit showed the leaders of the 27 EU countries were preparing to back an estimate that developing nations need €100bn ($148.2bn) a year by 2020 to tackle climate problems, reports Reuters.