U.K. Official: No Separate Funding For Climate

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  • Sir David King, special representative on climate change, U.K., has ruled out separate allocation of funds in addition to development aid for climate action.
  • He is visiting India to ascertain its position on climate change negotiations and interact with the government.
  • Sir David King said: “In the U.K., our aid budget at 0.7 per cent of the GDP is higher than any other country. We are not going to be able, especially under our austerity measures in the government, to create new funds.
  • We have to be realistic about expectations here.”
  • He said Britain likes to proceed by example.
  • We were the nation that first announced a cut of 80 per cent emissions by 2050. We already reduced it by 29 per cent and we will be more than 50 per cent by 2030.
  • He pointed out:  We are setting ourselves a target that we believe other countries should be doing as well.
  • On the finance front, he said Britain put together an International Climate Fund  where British money is 3.89 million pounds or $37 billion that is the British contribution to adaptation and mitigation in developing countries and if every country followed that, the sum of money in the Green Climate Fund (GCF) would be very different.
  • The GCF had crossed the 10 billion mark last month but is way short of what developing countries would need to fund mitigation and adaptation.
  • He says the European Union has had feed-in tariffs for 12 years and it costs the European tax payer 0.1 to 0.2 per cent of GDP each year.
  • The result is that the cost of renewables’ installation has come down from $50 to $0.5 a watt.
  • Sir David King said :We have created a production process through subsidies that has pulled the price down through the learning curve, which means countries like India can install photovoltaics on prices that are comparable with coal fired plants.
  • Sir David King noted: When we talk of historical responsibilities, we have to take into account what Europe has been doing  we wish the U.S. had been working with us over that period. Within the EU, our record is not bad through the aid programme in terms of mitigation and adaptation and through such process we are taking our responsibility very seriously.