In an effort to overcome the stalemate in international
negotiation regarding adaptation financing, the European
Commission released on Thursday a blueprint on climate
aid under which the EU should contribute up to 2-15
billion euros a year to help developing countries cope
with climate change. Individual country shares should be
defined starting from the burning sharing agreement, but
keeping into account special needs, with all details
finalized only after Copenhagen.

Adaptation needs had
been estimated to amount to €100 billion a year, last
month by UNFCCC chief Yvo de Boer. The EU financing
commitment should add up to private and public effort
from developing countries themselves and the role of
international carbon markets. An earlier leaked version of
the blueprint included €13-24 billion financing from the
EU, but Stavros Dimas, environment commissioner,
denied that the new number was a result of member
countries pressure.

Read more

• Communication ‘Stepping up international climate finance: A European blueprint for the Copenhagen deal’
• Staff Working Document accompanying the Communication
• Press release
• Questions and Answers on the Communication  
• Citizens’ summary

All these ressources are linked on the ‘Climate change’ web page of the European Commission.

Emission Trading Monitor

• This news is extracted from the Emission Trading Monitor : a CMCC weekly column that summarises the latest news on international climate change agreements, the updates on the carbon market and the energy and technology updates in the realm of climate change. Go to the web page and see all previous issues since March 2007.
• This week: Bulgarian NAP soon final, EU Commission releases climate aid blueprint, Australia becomes worst emitter, RGGI auctions suffer from bearish trend, and, as usual the situation of the Carbon Market – Download the 7-11 September, 2009 Newsletter [pdf – 156 Kb]