Greenpeace urges rich countries to spend more money on climate financing

Naidoo, executive director of Greenpeace, said during an exclusive interview with Xinhua on Wednesday, "Our demand is 140 billion per annum because that is what science is telling us is needed to slash emissions and stop further tragedies that we actually face."
If action was not taken immediately, the costs were going to be much more, the environment activist warned.
Naidoo said rich countries mobilized "not millions, not billions, but trillions of dollars" to bail out the banks and bankers during the financial crisis last year, emphasizing that "we need the same kind of political will with regard to financing to developing countries to help them cope with climate change."
The EU has committed to a 20-percent emissions cut by 2020 on the level of 1990, while the U.S. proposed to reduce its emissions by 17 percent compared with 2005.
China has committed to cutting its carbon intensity per unit of GDP by 40-45 percent by 2020 on the level of 2005.
The Greenpeace chief said there were only 10 days left for the negotiations and non-governmental organizations were doing everything possible to keep pressure on negotiators to deliver "a fair, ambitious and binding treaty" at the end of the meeting; Kazinform cites Xinhua. See www.news.xinhuanet.com for full version.