Financing said vital for world climate change deal - Reuters- global warming news

The official, Franz Perrez, was speaking at a news conference on the eve of a two-day gathering of environmental ministers and experts from some 45 countries to discuss how to reach agreement on a funding deal. It was agreed in Copenhagen that what Perrez dubbed a "fast-track" financing of some $30 billion was needed for the years 2010-2012 to create confidence, but the larger goal is to ensure by 2020 that $100 billion a year can be mobilized. Perrez said the Geneva talks will try to pin down differences on how the funding will be set up and who might provide it, adding that he hoped an agreement might be reached by 2012 on how to create the mechanism. The ministers' meeting will be the first since a review team called on Monday for a sweeping overhaul of the management of the U. The review endorsed the main finding of the IPCC's report — that mankind is to blame for global warming — but Perrez said the furor over the errors might make it more difficult to raise the funds needed to tackle the overall challenge.

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