Lima: Rich countries had by Tuesday pledged more than $10 billion in climate aid for poor economies in a major milestone for UN global warming talks in Lima, according to a tally compiled by AFP.
The $10-billion level was exceeded when Australia promised $166 million and Belgium $63.9 million at a special ministerial meeting in the Peruvian capital.
The pledges are for the brand-new Green Climate Fund (GCF), the main vehicle for channeling financial aid to poor nations, promised in 2009.
Rich countries undertook at the troubled Copenhagen Climate Summit to muster at least $100 billion per year, from all sources, from 2020.
Commitments are being closely scrutinized at the December 1-12 talks, where developing countries see funding promises as a sign of good faith in negotiations to forge a global climate pact by December 2015.
On Friday, Norway said it would provide $258 million to the GCF over the next four years.
That brought total pledges of contributions to the fund to about $9.95 billion.
"Crossing the $10 billion threshold is a major milestone that demonstrates commitment to help vulnerable countries confront climate impacts," said Athena Ballesteros of the World Resources Institute, a US think tank.
"These contributions should build trust in the negotiations and propel action to a global agreement."
Australia said its funding would be allocated over four years.
The pledge follows the United States contributing $3 billion, Japan up to $1.5 billion and France and Germany a billion dollars each to the UN fund.
Australia has come uner fire by green groups for its use of coal-fired power and per-capita carbon pollution, which is one of the highest in the world.
The $10-billion level was exceeded when Australia promised $166 million and Belgium $63.9 million at a special ministerial meeting in the Peruvian capital.
The pledges are for the brand-new Green Climate Fund (GCF), the main vehicle for channeling financial aid to poor nations, promised in 2009.
Commitments are being closely scrutinized at the December 1-12 talks, where developing countries see funding promises as a sign of good faith in negotiations to forge a global climate pact by December 2015.
Advertisement
That brought total pledges of contributions to the fund to about $9.95 billion.
Advertisement
"These contributions should build trust in the negotiations and propel action to a global agreement."
Advertisement
The pledge follows the United States contributing $3 billion, Japan up to $1.5 billion and France and Germany a billion dollars each to the UN fund.
Australia has come uner fire by green groups for its use of coal-fired power and per-capita carbon pollution, which is one of the highest in the world.
Advertisement
COMMENTS
Advertisement
Deadlock at UN Climate Forum Prompts US Warning In Overtime, UN Climate Talks Head for Watered-Down Deal in Lima Closing of UN Climate Talks Postponed in Lima Life On Earth Originates From One Ancestor, Older Than Previously Believed Elon Musk's X To Close Brazil Operations Over "Censorship Orders" Siddaramaiah's Swipe At Governor Amid Calls For Resignation: 10 Points Bag With Chemical Catches Fire Before Being Loaded On Flight, 5 Arrested Part of Bihar Bridge Crashed Into Ganges River While Being "Dismantled" Elon Musk's X To Close Brazil Operations Over "Censorship Orders" Track Latest News Live on NDTV.com and get news updates from India and around the world.