But the finance rules remain particularly “sensitive”, and progress on bridging the divide is “dragging”, according to two negotiators. In Katowice, the fight is over the rules designed to hold richer countries to their pledge to shore up $100 billion a year in public and private climate finance from 2020. The question is how far developed countries will be required to go in committing to their pledges for future funding, and reporting on what they deliver. EU countries and the European Investment Bank are the biggest contributors to climate finance, providing a combined €20.4 billion ($23.2bn) in public finance last year. Negotiators appeared to have made more progress on the rules for reporting future finance, cutting the number of pages and brackets.

Source: Ethiopian News December 06, 2018 17:26 UTC