Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-23-Speech-4-472"
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"en.20090423.68.4-472"2
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".
Madam President, ladies and gentlemen, in the conclusions from the meeting of 19 to 20 March 2009, the Council stated that mitigation and adaptation measures would require considerable domestic and financial resources, both public and private, particularly in the most threatened developing countries, and that the EU would provide a fair share of the funding for these measures in developing countries. Commission estimates based on recent studies indicate that by 2020 the additional public and private investments will have to increase to almost EUR 175 billion if emissions are to be reduced to a level compatible with EU objectives.
Current studies also show that more than half of these investments will have to be made in developing countries. The secretariat of the UN Framework Convention on Climate Change further estimates that in 2030 the cost of adaptation in the developing countries would be in the range of EUR 23 to 54 billion a year. As concerns funding for mitigation measures in developing countries, the Council has adopted a clear position. With the help of developed countries developing countries should draw up strategies and plans for building a low-carbon economy. These strategies and plans should make a distinction between measures that can be adopted independently as they involve either zero or very low expenditure or even a net benefit in the medium-term, and measures which will lead to positive additional costs that individual countries themselves cannot easily afford.
In order to implement the Copenhagen agreement it is essential to have sufficient, predictable and timely financial support. The international financial structure providing this support must be based on principles of efficiency, suitability, equality, transparency, responsibility, cohesion, predictability and proper financial management. In relation to funding sources, the Council confirmed options which may be further examined in international negotiations and which involve an approach relying on contributions based on an agreed scope, a market approach based on contract auctions or combinations of these and other options. Moreover, during the transition to a global carbon trading market, flexible mechanisms, the clean development mechanism and joint implementation will continue to play a significant role in financing emission cuts in developing and transforming economies. In relation to this it will be important to strengthen integrity from the perspective of the environment, the contribution to sustainable development and fair geographical distribution. It is also necessary to expand the carbon trading market in order to send clear signals about the cost of carbon. This involves one of the most cost-effective ways of cutting emissions while at the same time providing an obvious stimulus for the transfer to a low-carbon economy. In connection with the EU agreement on the climate-energy package the Council has also emphasised the contribution of this package to EU efforts to secure funding for measures aimed at mitigating climate change and adapting to it. It is clear that we must do much more in the area of funding. The Council has decided to return to this topic in its June meeting, in order to further define its position in relation to ongoing international negotiations."@en1
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