Ethiopia, UK launch UN panel to secure climate funds

By Tesfa Alem Tekle

February 14, 2010(ADDIS ABABA) – Ethiopia and Britain have joined together to lead a new UN panel launched to facilitate the implementation of Copenhagen climate change compensation pledged to poorest countries.

The panel was set after UN Secretary-General Ban Ki-moon called on the British and Ethiopian governments to form a high level advisory group to help finance the world’s climate change programs.

On Friday, Ban Ki-moon announced that Britain and Ethiopia will head a new UN panel which aims to secure $100 billion every year to help developing nations cut emissions and adapt to climate change by 2020.

The new UN panel, which will be led by Ethiopian Prime Minister Meles Zenawi and his British counterpart, Gordon Brown, was officially announced after UN chief Ban Ki-moon held videoconference with the two officials. The advisory panel also includes Norwegian Prime Minister Jens Stoltenberg and Guyana’s President Bharrat Jagdeo.
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The group’s task will be to explore long-term financing solutions to help the poorest countries adapt to climate change as part of the global efforts to protecting the future of the planet’s environment.

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The launch of the group is an extension of the agreement reached at the Copenhagen climate conference that $100 billion a year of public and private finance will be needed by 2020 to help developing countries.

“I very much look forward to working with Prime Minister Meles and the members of the advisory group in the task that believe is one of the most important we face – combating climate change by ensuring that the poorest countries have the finance that is necessary to do so,” said PM Gordon Brown.

“If we can resolve this problem, then I believe many of the other challenges of climate change can be resolved. So the task before us, while daunting, is a very important one to the future of the environment of the world.”

The funds to the poorest countries is intended to help them cut emissions, switch to renewable energy and adapt to the impact of global warming, by building new flood defences and other projects.

The panel will work with governments, central bankers and finance experts to find ways of cooperating with public and private companies in raising the money pledged during last December’s climate talks in Copenhagen.

(ST)