SPACE WIRE
EU pledges millions of dollars to help poor countries combat climate change
MILAN (AFP) Nov 26, 2003
The European Union has pledged 390 million dollars (325 million euros) a year to help developing countries from 2005 fight the damaging effects of climate change, Italian officials said Wednesday.

The announcement comes ahead of a December 1-12 conference here of parties to the UN Climate Change Convention to assess progress in addressing problems concerning global warming.

The Italian environment ministry said that Italy's share would be 86 million dollars. Italy currently holds the EU's rotating presidency.

At a conference in Bonn in July 2001, 20 countries including the 15 EU member states committed themselves to provide 410 million dollars a year to developing countries until 2005.

Italy's Environment Minister Altero Matteoli confirmed the EU's commitment.

The Bonn accord saved the 1997 Kyoto Protocol from collapse after a widely-criticised move by the United States to turn its back on the treaty.

The protocol, built upon the 1992 Rio de Janeiro framework climate convention, aims to reduce the greenhouse gas emissions of 39 industrialised countries by 5.2 percent by 2008-2012 compared with 1990 levels.

Environmental group WWF is due Thursday to issue a new report warning of devastating effects of climate change.

SPACE.WIRE