Press Release: Climate change: Commission sets out proposals for global pact on climate change at Copenhagen

On 28 January, 2009, the European Commission set out its proposals for a comprehensive and ambitious new global agreement to tackle climate change and how it could be financed. The new pact is due to be concluded at the Copenhagen UN climate conference in December. In order to keep temperature increase below 2°C, developing countries will require substantially higher funding from the developed world and multilateral institutions to help them shoulder their contribution to addressing climate change. The Commission’s proposals included the creation of an OECD-wide carbon market by 2015 and of innovative international funding sources based on countries' emissions and ability to pay.

European Commission: MEMO/09/34: Questions and Answers on the Communication Towards a comprehensive climate change agreement in Copenhagen http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/34&format=HTML&aged=0&language=EN&guiLanguage=en

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