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Durban - Revenue from emissions-cutting measures in the shipping
industry might be directed to developing countries to help them tackle
climate change, a draft document seen by Reuters showed at UN climate
talks on Tuesday.
The text proposes that cash raised by “specific actions” to reduce
emissions from maritime bunker fuels, which may be designed and
implemented by the International Maritime Organisation, could be
distributed to developing countries and used to finance climate
adaptation through the so-called Green Climate Fund.
This is the first time a concrete source of funding has been proposed
for the fund. Negotiators will discuss the proposal later on Tuesday.
Nearly 200 countries are meeting in Durban from November 28 to December 9
for a United Nations summit to try to hammer out a new global climate
treaty.
The UN hopes delegates attending the global climate talks
will agree on the design of the Green Climate Fund, which aims to
channel up to $100bn a year by 2020 to countries most at risk from the
effects of climate change, such as rising sea levels and temperatures
and crop failure.
Concrete progress on funding would help revive the flagging talks,
hampered by rifts between countries on the form of a new global pact.