The European Union did not say today how much it would contribute to fight global warming in developing countries but identified its guiding principles for doing so during a summit in Brussels.
The EU affirmed that its two main principles for contributing will be ability to pay and responsibility for emissions, according to a draft conclusion from the EU summit today, Reuters reports. The EU also said all countries should contribute with the financing with exception of the least developed.
To let Europe drop behind would be a mistake, Irish prime minister Brian Cowen said at the summit, according to the report.
We should maintain leadership towards reaching an ambitious global climate agreement in Copenhagen, he added, saying either today or tomorrow EU leaders will agree in several fundamental principles for setting out the terms for their financial contributions.
The current meeting is seen as an important preparation for climate talks in Copenhagen in December where worldwide leaders will meet to address global warming. Some environmentalists criticized the EU today for failing to issue a financing figure.