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New Zealand not afraid of the financial commitment – Key

Nov 30, 2009 News


Climate change mitigation and adaption…

New Zealand’s premier John Key on the aspect of what kind of commitments could be expected as it relates to the Climate Change talks in Copenhagen, said that a fund must be established if there is to be any agreement.
He pointed out that of the $10B, his country is prepared to commit between $10 and $15M.
Key made the revelation during the closing briefing of the Commonwealth Heads of Government Meeting in Port-of-Spain yesterday, emphasising that any agreement in Copenhagen next month must be made with financial commitments toward the establishment of a fund by the developed world.
He said that the reality of climate change necessitates that a lot of money will have to be spent for protecting the states that most need it.
He said that money will also have to be spent in the development of technology.
As it relates to New Zealand, Key stated that one project that they have been discussing with countries around the world is the establishment of a Global Alliance.
This grouping is expected to find solutions to methane and nitrate emissions and this technology will be transferred to these countries that need it at no cost to them.
He stated that in places where agriculture is big business, with this technology those countries will be able to grow their food supplies and do so in an environmentally friendly way.
“That is not an insignificant challenge when you consider that over the next 35 years the global population is likely to rise by another 3.5B and the demand for food will double by 2050.”
Outside of the financial commitment, Key explained that such is another kind of approach that a developed country like New Zealand would be undertaking.
“We are not afraid of the financial commitment we need to make….it would be one that we expect the other developed countries to join in making.”

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