Finance and bigger emission reduction holds up talk at Doha | delhi | Hindustan Times
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Finance and bigger emission reduction holds up talk at Doha

delhi Updated: Dec 05, 2012 18:57 IST
Chetan Chauhan
Chetan Chauhan
Hindustan Times
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Lack of commitment from the rich nations to increase substantial fund flow to the developed world and jacking of their emission cut targets is holding back an agreement at Doha climate talks, negotiators from developing countries claimed on Wednesday.

Both United States and Europe have refused to upwardly revise their emission cut pledges as sought by the developing countries and have failed to declare how much money it would give to fight climate change between 2013 and 2020, inviting a stark reaction from the poor nations.

“Robust ambition (to cut emissions) and promise of scaling up the funding to 100 billion US dollars a year from 2013 is a must for deal at Doha,” said Pa Onsman Jarju on behalf of the least developed nations (LDC) of the world.

US negotiator Jonathan Pershing claimed that the developed world has given 33 billion US dollars between 2010-2012 to the developing world against the promise of US $ 30 billion and it shows that the rich countries were willing to finance provided there is a “right balance” in the new agreement to be readied by 2015 which is “inclusive” for all countries and “ratifiable”.

The issue of finance has divided the biggest conglomerate of developing countries G-77 plus China with the least developed and island taking the extreme position of seeking 100 billion US dollars from next year whereas China and India taking a moderate stance of scaling up the contribution by 10 billion US dollars a year so that by 2015 the contribution is 60 billion US dollars a year.

China minister equivalent on climate issues Xie Zhenhua said they were looking at mid-term commitment on finance from the rich nations, which can lay a strong “foundation” to achieve a deal at Doha.

The LDC led by Gambia wants 100 billion US dollars a year from rich countries, a demand not acceptable to the developed world led by two big carbon emitters United States and Europe.

“100 billion US dollars is not lot of money. Just three states in US has asked for 83 billion US dollars to deal with Sandy,” said a negotiator on behalf of 43 island nations at UN climate conference, describing the state of play at “Doha being lost in a sandstorm”.

However, there is unity among the developing countries that rich nations need to raise their targets to bridge the growing emission gap to keep the global temperature rise below two degree Celsius by 2050.

Brazil has provided a compromise by promising six month time to rich nations to raise their emission ambition. Europe has already said that it will not increase its emission reduction target from 20% to 30% in Doha.

Other sticky issues at Doha
* Whether second commitment period of Kyoto Protocol should be for five years or eight years

* Financing model for Green Climate Fund decided at Durban in 2011

* Sound accounting rules to verify emission reduction targets of the developed nations

* Road-map for new climate treaty for all, called Durban platform, by 2015

* Capacity building in developing countries to utilize new funding mechanisms under the UN climate convention