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Copenhagen: Funding for climate still up in the air

Copenhagen: Funding for climate still up in the air

World leaders may have reached a last-minute climate accord during key UN talks in Copenhagen this weekend, but the global pact could come as a disappointment to the developing world, including Cambodia, observers said Sunday. “I don’t think the developing world has come out of this particularly well,” said Brian Lund, the regional director for Oxfam’s East Asia office. Cash-strapped developing countries such as Cambodia were particularly focused on how much money the world’s richest nations were prepared to offer to help poorer countries adjust to climate change. But while nations set a goal of raising US$100 billion annually by 2020, as well as $30 billion before 2012, the funding hasn’t yet been finalised. “The money hasn’t been put on the table yet, so until that happens, it’s all still in negotiations,” Lund said.

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