Nations Rethink Copenhagen Commitment On Climate Funding

The success of the climate change talks in Cancun in November will hinge mainly on the funding and financial issues.

Issues related to fund raising, coordination of funds and new sources of financing and how the private sector should be brought on board were discussed in the meeting among other points. Pledging of funds were on the agenda, with the US upping its offer of $7 billion from the Copenhagen pledge of $2.5 billion for the period upto 2012. Out of 45 participating countries, 20 ministers attended, including India's environment minister Jairam Ramesh. Read the full report here.

Source: Sheila Mathrani, The Financial Express.