Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-20-Speech-2-996"

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"en.20091020.5.2-996"2
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"The negotiations in Copenhagen on financing to developing countries will be crucial if this summit is to be successful. Already, some African countries have said they will not be able to commit to the kind of deal we need at Copenhagen if it does not contain suitable measures for financing of mitigation and adaptation in developing countries. There are two key points here - the first is that the public money given to these developing countries must be new, additional money and should not come from existing aid budgets. The second point is that it is not just public money which can be used in this context; in addition to providing aid directly, steps can be taken to encourage private sector investment in low-carbon economies. The extent to which the private sector is prepared to invest in developing countries will depend on international agreements on Emission Trading Schemes. Agreements on this issue will provide the policy coherence and stability which give the private sector the confidence to invest properly in developing countries. The negotiations must therefore aim for both comprehensive commitments regarding public financing and concrete measures to secure private sector investment."@en1
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