Money Collected Would Fund Climate Change "Fight"

192 countries meeting at the UN climate talks in Bonn, Germany, have proposed a fee to be levied on international flight tickets as well as shipping that would be earmarked for fighting climate change. It's estimated the fee, proposed by the 50 wealthiest countries, could raise as much as $10 billion a year while raising ticket prices less than 1%, according to the attendees.

In a report in "The Guardian", Connie Hedegaard, the Danish environment and energy minister who will host the final UN climate summit in December, said the airline fee would be matched by a mandatory surcharge on fuel used for international shipping. "People are beginning to understand that innovative ideas could generate a lot of money. The Danish shipping industry, which is one of the world's largest, has said a that truly global system would work well. Denmark would endorse it," said Hedegaard.

The negotiations are apparently stalled over how to raise money for climate change funds designed to assist developing nations, who say they need billions of dollars to assist them in adapting to things like crop losses and sea level change. Their assertions are backed by the United Nations. "Developing countries will no longer let themselves be sidelined. In the past, they have been brought on board [climate negotiations] by promises of financial support. But all they got was the creation of a couple of funds that stayed empty." said  Benito Müller, director of Oxford University's institute for energy studies.

US negotiator Jonathan Pershin, said last week that the US had budgeted $400m to help poor countries adapt to climate change as an interim measure. Philippine representative Bernarditas Muller dismissed that amount as "inadequate".  Muller is the coordinator  of the G77 and China group of countries.

Back in April, a European group of international airlines including Air France/KLM, British Airways, Cathay Pacific and Virgin Atlantic suggested that airlines adopt a "cap and trade" plan to offset the industry's CO2 emissions.

FMI: http://unfccc.int/2860.php