G8 push for climate funds
finance ministers of G8 countries recently supported setting up multi-billion-dollar funds to combat climate change in developing countries. Civil society groups and developing countries have, however, criticized the funds placed under the World Bank, saying they might be used for subsidizing carbon-intensive technologies. They want them to be under the un Framework Convention on Climate Change (unfccc).
Proposed by the us, uk and Japan last year, the funds now go under the generic name of Climate Investment Funds. One is a Clean Technology Fund to address mitigation; the other a Strategic Climate Fund that will include adaptation projects.
Civil society groups said there was no clear definition of what
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