In a run-up to the next United Nations climate change talks in Bonn in June, the European Union (EU) has come forward with proposals on fast track financing and pledging 2.4 billion euro per year over two years. Finance is one of the key issues for an agreed outcome from the meeting in Mexico. At the Copenhagen meeting, rich countries sought to overcome this issue by pledging “fast-start funding”. They agreed on providing $30 billion by 2012 to help developing countries reduce carbon emissions and adapt to climate change impacts, with a commitment to increase it to $100 billion per year by 2020.
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