Ban Ki-moon asks rich nations to pledge $10 bn at Copenhagen | world | Hindustan Times
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Ban Ki-moon asks rich nations to pledge $10 bn at Copenhagen

Ahead of the Copenhagen Conference, UN Chief Ban Ki-moon has asked developed countries to pledge $10 billion at the meet to jumpstart the process to combat climate change.

world Updated: Nov 21, 2009 00:26 IST

Ahead of the Copenhagen Conference, UN Chief Ban Ki-moon has asked developed countries to pledge $10 billion at the meet to jumpstart the process to combat climate change.

“In the short-term we look to developed world to provide roughly $ 10 billion in fast-track funding annually over the next three years,” Ban said.

He said the target was to substantially scale up the amount to $100 billion annually by 2020.

Ban also demanded the setting up of a “transparent and equitable governance structure” to manage and effectively utilise the resources.

“It must give all countries a voice.”

The intitial plan was that around 192 countries that will meet in the Danish capital next month would hammer out a climate treaty to succeed the Kyoto Protocol.

Now, the bar has been lowered and governments are expected to reach a political agreement on four essential elements, which will be worked into a treaty in six months following the talks.