The European Union is failing to give full details about its €7.2 billion pledge for immediate climate finance needs in developing countries. By not being fully transparent, the EU is undermining trust with developing countries.
Oxfam welcomes the new European Commission proposals for advancing climate talks. However, while the EC has highlighted emissions reduction loopholes in the Copenhagen Accord, it has ignored major loopholes on climate finance.
As hopes for a legally binding deal faded in the last negotiating hours of the climate summit, Robert Bailey, Senior spokesperson for Oxfam International said: “It is shameful that after two years of blood, sweat and tears, we didn’t finish the marathon on time.
The official outcome of two years of climate negotiations was released at the UN climate talks in Copenhagen today.
Proposals from Denmark, which is chairing the climate negotiations, and the emerging developing economies the content of a final deal in Copenhangen have emerged today