Tuesday, September 28, 2010

Grenada urges fast start to climate change financing

NEW YORK, September 27, 2010 – Grenada’s Environment Minister, Michael Church is urging developed countries to make good on their fast-start financing pledges for climate change mitigation, adaptation, technology development and transfer and capacity building.

Minister Church reiterated the position of Grenada and the Alliance of Small Island States (AOSIS) during a meeting in New York with European Commissioner for Climate Action Connie Hedegaard.

“We need to put the issue of fast-start financing on the table and get rapid results,” said Minister Church while acknowledging the long and tedious negotiations.

“We need to agree in Cancun (COP-16) some sort of practical arrangement that will manage the architecture of long-term climate change financing”.

Commissioner Hedegaard said that the overall challenge is to agree on a balanced package for Cancun. “The fast-start funding is essentially important and also provides the platform for concrete projects in the lead-up to Cancun,” said Hedegaard, who hosted the U.N. Climate Change Conference in Copenhagen last year on behalf of Denmark.

Both officials agreed that the COP-15 in Copenhagen was not a total failure but instead an initial step toward a binding agreement.

“It’s not fair to say it was a total failure but as lessons learnt in Copenhagen and must now look at it as an ongoing process,” said Mr. Church, who was accompanied by Permanent Secretary Sally Anne Bagwhan Logie.

Earlier this month, the Netherlands, backed by the U.N. and partner nations, launched a website, www.faststartfinance.org, to help "fast-start" the $30 billion in climate aid, pledged by richer countries in 2009.

So far, six European donors, including Denmark, Germany and Britain, have entered cash promises.

Fast-start finance will support immediate action on climate change and kick start mitigation and adaptation efforts in developing countries. It will not only enhance implementation of the Convention by developing countries between now and 2012 but also aims to help them prepare for sustained implementation beyond 2012.

Grenada will be hosting an AOSIS Ministerial Meeting in November and Minister Church is anticipating the formulation of a reasonable agenda in preparation for the Mexico meeting.

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