PM urges 'climate change fund' to help nation's poorest

Gordon Brown today called for the creation of a 100 billion dollar a year international fund to help the world's poorest nations adapt to the impact of climate change.

Setting out the Government's manifesto for international climate change talks in Copenhagen at the end of the year, the Prime Minister said it was essential to cap damaging carbon emissions in order to stabilise global warming.

At the same time he said that the developed countries must provide assistance to the developing nations to enable their economies to grow while adapting to the changing global climate.

He proposed a "working figure" of 100 billion dollars (£60 billion) per annum by 2020 to be financed through the growth of the international carbon market, with a limited amount of development aid.

Speaking at the manifesto launch at London Zoo, Mr Brown committed Britain to paying its "fair share" of the global total and said he expected other developed countries to do the same.

"Over recent years the world has woken to the reality of climate change. But the fact is that we have not yet joined together to act against it. Copenhagen must be the moment we do so," he said.

"If we act now, if we act together, if we act with vision and resolve, success at Copenhagen is within reach. But if we falter, the earth itself will be at risk."

Mr Brown said in order ensure the increase in global temperature was kept to a maximum of 2C (35.6F), overall emissions must peak by 2020 and be cut by at least half on 1990 levels by 2050.

To leave room for economic growth by the developing nations, that meant the developed countries needed to reduce their emissions by at least 80% by 2050, he said.

"We know from our growing understanding of the impacts of climate change that an increase of more than 2C is dangerous," he said.

"We cannot in good conscience plan for the world to exceed that limit. So our goal must be 'no more than two degrees.'"

The Prime Minister offered to back a Norwegian proposal for the setting aside and auctioning of a small percentage of national emissions allowances to help finance the assistance to developing nations.

While he said some climate finance could come from existing development budgets where it clearly met both poverty reduction and climate adaption objectives, it should be limited to 10% of the development budget.

"An ambitious agreement in Copenhagen is certainly achievable. And yet it remains far from certain," he said.

"We cannot allow this to drift - when every year of delay retards investment, locks us into a higher emissions pathway, worsens the impacts on the poorest and most vulnerable, and increases the costs of eventual reduction."

Oxfam welcomed Mr Brown's announcement but said it did not go far enough.

Chief executive Barbara Stocking said funding of at least 150 billion dollars (£90 billion) a year was needed and she condemned the proposal to draw on development aid.

"Rich countries must now come forward with the necessary upfront funding for a fair and safe deal," she said.

"Climate change is a problem caused by the rich world but borne overwhelmingly by the poor. It is simply wrong that any solution should involve plundering aid money - even if only 10%. If Paul needs money it should not be taken from Peter."

Greenpeace said Mr Brown had shown that he understood the scale of the challenge facing world leaders at Copenhagen.

"By becoming the first major leader to put a figure on how much money is needed he has shown signs of leadership on climate change that have so far been sorely lacking," said Greenpeace chief scientist Doug Parr.

"At last a G8 leader is talking about the right order of magnitude, three-digit numbers and billions instead of millions.

"Without these kind of sums there won't be a deal in Copenhagen, and without a deal the world faces a grave future."

Mr Brown told the audience the negotiations were "not moving at the pace we need" amid concerns that they could suffer the same fate as long-stalled world trade talks.

The issue will be high on the agenda at the G8 summit in Italy next month, which will also feature climate-based talks involving developing nations chaired by US President Barack Obama.

Britain, the Prime Minister also said, would ensure that its contribution to the financing of the deal would be on top of existing aid commitments.

Extra cash to help pay for it might come from the aviation and maritime sectors, he indicated.

"It is important that aviation and maritime emissions are brought into the Copenhagen agreement, and the mechanisms for reducing emissions in these sectors could also potentially yield revenues for climate financing," he said.

Proposals to tax flights and shipping - or include them in emissions trading schemes - are likely to be some of the most difficult to negotiate.

Mr Brown's announcement was warmly welcomed by senior diplomats from countries such as the Maldives, Rwanda and Bangladesh, which are among the worst hit by climate change but produce very little pollution, who attended the speech along with representatives of climate change campaigners.