PORT OF SPAIN: Commonwealth leaders have backed plans for a quick start to a climate change fund to help poor developing countries hit by environmental disasters.
They have also accepted Malaysia’s proposal that grants be offered instead of loans to affected countries and that minimal conditions be imposed on them to receive the fund.
They have also accepted Malaysia’s proposal that grants be offered instead of loans to affected countries and that minimal conditions be imposed on them to receive the fund.
- In a Communique issued on Saturday, the Commonwealth leaders welcomed the initiative to start a Copenhagen Launch Fund in 2010, with USD10bil (RM33.92mil) set aside annually for three years for the purpose.
- The statement also called for 10% of the spending to go to mitigation in small island nations, which are facing climate change problems due to rising sea levels.
- The Communique, issued following the executive meeting of the Commonwealth Heads of Government Meeting (CHOGM) on Saturday, is important as it lends weight to the negotiation process set to take place in next month’s global summit on climate change in Copenhagen.
- The Communique, he elaborated, stressed on the importance of an internationally legally binding agreement and leaders had pledged to support the Danish Prime Minister in seeking a legally binding outcome no later than 2010.
- CHOGM also called for urgent action to reduce global emissions and leaders discussed whether average global temperature increase should be constrained to below 1.5 degrees or to no more than 2 degrees Celsius above pre-industrial levels.
- At a retreat following the executive session, the leaders agreed to accept Rwanda as a member country as it had met the criteria of the Commonwealth.
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