EU Shakes Up Climate Talks With Surprise Disaster Fund Offer
Newsy
European Union Executive VP Frans Timmermans made it clear that the EU won't offer more money unless there are concessions on emissions targets.
Climate talks appeared stalled late night Thursday on major issues going into the final day, but possibilities for a deal were buoyed by an unexpected proposal by the European Union on two of the thorniest issues, tying compensation for climate disasters to tougher emissions cuts.
Minutes after the United Nations summit's chairman warned delegates that "we are not where we need to be in order to close this conference with tangible and robust outcomes," the EU's top climate official made a surprise offer. To applause, he proposed a two-pronged approach that would create a pot of money for poor countries and push for steeper cuts of heat-trapping emissions by all countries, as well as the phasing down of all fossil fuels, including natural gas and oil.
The issues of compensation and pollution-cutting "are two sides of the same coin as far as the European Union is concerned," said European Union Executive Vice President Frans Timmermans, making clear that the 27-nation bloc won't offer more money unless there are concessions on emissions targets.
