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Published: Friday 06 September, 2013

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CANCUN, MEXICOShould airline passengers pay a small tax to help out? How about global money dealers? Or perhaps governments should take what they spend subsidizing gasoline prices and put it toward the climate cause.



Delegates to the UN climate conference hope to agree in its final days on setting up a new green fund to help poorer countries grapple with global warming. Then the real arguments will begin over where the cash will come from.



UN SecretaryGeneral Ban Kimoon stepped into the middle of the debate earlier this year by enlisting a highlevel group of international political and financial leaders to offer advice. On Wednesday the UN chief presented their ideas to the conference, including airline and foreignexchange levies, as he led a discussion with key figures on the panel.



It will be challenging but feasible and doable even in the context of the ongoing economic crisis to raise $100 billion a year by 2020, as promised by richer nations at last years climate conference in Copenhagen, Denmark, Ban said.



He said adequate financial support would build trust between the developing and developed world, needed to forge an eventual umbrella agreement among all nations to fight climate change.



Besides the green fund, the annual twoweek meeting of parties to the 193nation UN climate treaty may also agree on ways to make it easier for poorer nations to obtain patented green technology, and may pin down further elements of a plan to compensate developing nations for protecting their climatefriendly forests.



But once more, as at the Copenhagen summit, negotiators wont produce a sweeping deal to succeed the relatively modest Kyoto Protocol after 2012, one that would slash greenhouse gases to curb climate change. has long refused to join Kyoto, which manda michael kors dress tes limited emissions reductions by richer nations, and whose commitments expire in 2012. complained the accord would hurt its economy and should have mandated actions as well by such emerging economies as China and India. wont sign up to any legally binding climate pact unless it applies to all the major countries, including China and India.



Meanwhile, carbon dioxide and other global warming emissions from industry, vehicles and agriculture continue to accumulate in the atmosphere.



The green fund would be considered a key success for Cancun, but many details would remain to be worked out later, and agreement here was far from assured.



The financin michael kors dress g would help developing nations buy advanced cleanenergy technology to reduce their own emissions, and to adapt to climate change, such as building seawalls against rising seas and upgrading farming practices to compensate for shifting rain patterns.



The debate here zeroed in on the size and sources of the fund.



Behind closed doors, haggling over proposed Cancun decisions, delegates dueled over what developing nations considered an inadequate goal the $100 billion a year by 2020.



The developing south views such finance not as aid but as compensation for the looming damage from two centuries of northern industrial emissions, and propose that the richer countries commit 1.5 per cent of their annual gross domestic product today roughly $600 billion a year.



Northern delegations resisted such ambitious targets, and also objected to language indicating most of the funds money should come from direct government contributions.



One of the developing worlds own leaders, Ethiopias Prime Minister Meles Zenawi, defended the norths stand on that point.



In view of the economic crisis, it is not feasible for most of that money to come through the government budgetary process at the moment, Zenawi, a cochairman of the UN highlevel panel, said in the Banled discussion.



In the Cancun talks, northern delegations leaned toward the conclusions of Bans advisory group as the basis for the inevitably intense debate over funding that will follow any Cancun decision.



The groups final report last month said the greatest contributions should come from private investment and from carbon pricing, either a direct tax broadly on emissions tonnage from power plants and other industrial sources or a system of auctioning off emissions allowances that could be traded among industrial emitters.



Either route would make it economical for enterprises to minimize emissions, and would produce revenue. Zenawi said his group recommends that at least 90 per cent of such revenues flow to domestic budgets and the remainder to the global fund.



The UN advisers also see possible revenue sources in a tax or trading system for fuel emissions of international airliners and merchant s michael kors dress hips, or a fee on air tickets, with a potential for $10 billion a year.



They also suggested a possible levy on foreignexchange transactions, producing possibly another $10 billion, and removal of government subsidies of fossil fuels, with the money redirected to a climate fund. michael kors dress

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