Tag: Green Climate Fund

Green groups condemn UN plan to use $136m from climate fund for large dams

An alliance of green groups have called out plans for UN-backed hydro projects in Nepal, Tajikistan and the Solomon Islands, saying they will have “tremendous negative impacts” on ecosystems and indigenous people. Touted as a renewable energy source, large dams account for up to a billion tonnes of greenhouse gases a year due to rotting vegetation in the water, say critics. The Guardian U.K. reports.

China, EU carbon markets bailed out at Durban

(December 13, 2011) The Durban climate conference set out to save the planet, but in the end may only save China’s green energy industry and the EU’s carbon markets, both of which are in danger of freefall. The $100-billion a year Green Climate Fund, agreed to by the conference, will finance the global spread of Chinese technologies. And the EU’s unilateral decision to extend Kyoto will help prop up its faltering carbon markets. But beyond December 2012, when the current Kyoto Protocol ends, the EU will be on its own as Canada, Japan, and Russia have declared their intention to withdraw.