COP

As the latest round of UNFCCC talks on climate change draw to a close today, Oxfam warns that there has been a clear lowering of expectations ahead of the next UN climate summit in Cancun which will stall the progress needed unless negotiations step up several gears.

Oxfam International warned that world leaders have just two days to prevent failure at the climate talks in Copenhagen – poor countries will not sign a weak deal.

Soros’ proposal shows exactly the kind of ambition and urgency we need to see from rich country governments themselves. These kinds of long-term public resources are desperately needed so that poor countries can count on regular, and large payments to help them fight climate change.

The European Union is rumored to be preparing just a token handout for climate action in poor countries for the next three years, with no guarantee that this money is going to come on top of existing aid commitments.

$200bn could mean the difference between success and failure in Copenhagen, as the UN climate summit begins in the city today. The Summit marks the culmination of two years of international negotiations on a deal to prevent catastrophic climate change.