Cancun, December 11
The UN climate conference reached a "compromise" to set up a $100 billion “Green Fund” to fight global warming and which will be given to developing countries for adaptation and mitigation purposes., but there was no agreement on extending the landmark Kyoto Protocol on emissions cuts beyond 2012.
The UN climate conference reached a "compromise" to set up a $100 billion “Green Fund” to fight global warming and which will be given to developing countries for adaptation and mitigation purposes., but there was no agreement on extending the landmark Kyoto Protocol on emissions cuts beyond 2012.
"Confidence is back, hope has returned," host Mexican President Felipe Calderon said, minutes after a set of decisions was adopted at the end of the two-week conference of ministers from nearly 200 countries.
A 'Green Fund' has been set up that is expected to mobilise $100 billion per year by 2020, which will be given to developing countries for adaptation and mitigation purposes.PTI
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