Emerging Economies Push 2010 Climate Deal

The international community should have a legally binding change agreement by 2011, environmental ministers of Brazil, South Africa, China and India say. A legally binding agreement should be reached either at the U.N.-sponsored climate meeting in Cancun, Mexico or in South Africa in 2011 at the latest, the ministers said in a joint statement released after their meeting in Cape Town.

The ministers also proposed during their talks to use USD10 billion worth of fast-track funding in 2010 to test different measures of climate change mitigation and adaptation, Reuters reports. The international community could not afford to wait indefinitely for the U.S. to pass its domestic climate legislation, which is needed to finalize negotiations, before acting.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.