The EU made a step back in financing climate change
Adelina Marini, 11 December 2009
The European Union retreated from its initial idea to pay 5-7 bn euro per year by 2013 for mitigation and adaptation to climate change of poor and developing countries. During their last session of the European Council earlier today the EU leaders have agreed to secure 2.4 bn euro annually which probably is the result of a compromise so that all member states can contribute to the voluntarily efforts.
The president of the European Commission Jose Manuel Barroso explained the more than double drop of EU's commitments to Copenhagen by saying that yet when the first amount had been calculated 5-7 bn euro many critics said it was too much. This is why, he said, 2.4 bn euro responded perfectly to the fair share of European countries.
The press centre of the Bulgarian government told euinside that the amount Bulgaria will contribute is 20,00 euro per year but the payment will start in 2011 and not 2010 as agreed for the so called "fast start investments". The Bulgarian prime minister assured his EU colleagues that in case of an improvement of the financial situation in Bulgaria, the country will raise its contribution.