Archived press release
UN climate talks in Bonn enter second week

Speaking ahead of the second week of the UN climate talks in Bonn, the first major session of negotiations since the climate summit in Copenhagen last December, Friends of the Earth’s Head of Climate Change Mike Childs said:

“Money might make the world go round, but with rich countries tightening the purse strings in Bonn, progress on securing strong and fair action on climate change is spinning to a halt.

“Instead of providing the extra money that developing countries need to adapt to the impacts of climate change, rich countries are recycling funds already earmarked for vital projects to improve health and education for some of the world’s poorest people.

“And climate funds should be managed fairly through the UN, not through the World Bank, which is controlled by rich countries and is the largest international lender for fossil fuel projects.

“The Government must ensure that money they’ve already pledged to tackle climate change is in addition to the funds committed to development projects, not sucked from it.”

Briefing: the talks so far
At the end of the first week of the UN talks in Bonn, Germany, it has emerged that much of the $30 billion pledged as part of the Copenhagen Accord’s fast-start climate fund will be drawn from the international development budgets of the world’s richest countries, rather than be ‘new and additional’ funds, as required by the UN Climate Convention. 
 
Tuvalu, a small island nation severely threatened by climate change, has this week alleged that the Copenhagen Accord’s Green Fund is “being used for coercive political purposes” to get support for the weak provisions of the Accord.
 
Who should have jurisdiction over funds committed to tackling climate change has also returned as a central issue in the negotiations. Friends of the Earth is calling for the establishment of a new global climate fund under the authority of the UNFCCC. Rich countries – including the UK – are, however, attempting to ensure the World Bank controls these funds, despite it being the largest international leader for fossil fuel projects in the world.
 
A new report released today by Friends of the Earth US – Capitalizing on Climate: The World Bank Role in Climate Change and International Climate Finance – highlights the conflict of interest inherent in the international institution playing a leading role in distributing climate funds whilst, at the same time, leading billions to fossil fuel projects.

ENDS

Notes to Editors:


1. Friends of the Earth is supporting the campaign for a tax on financial transactions – a Robin Hood Tax – to provide finance for developing countries to develop cleanly and adapt to the effects of climate change. http://robinhoodtax.org.uk

2. Friends of the Earth believes the environment is for everyone. We want a healthy planet and a good quality of life for all those who live on it. We inspire people to act together for a thriving environment. For further information visit www.foe.co.uk

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Published by Friends of the Earth Trust