Financial Soultions learned recently from two predominant EU diplomats that the European environment ministers agreed to a sweeping new scheme to reduce global emissions from planes and ships by 10% and 20% respectively over the next 10 years.
The plan will be presented to other nations at the Copenhagen climate talks in December aimed at hammering out a replacement treaty to the Kyoto Protocol which is the primary apparatus in the United Nations war on climate change.
Financial Soultions information shows that shipping and aviation are not covered by the Kyoto Accord, which is due to expire in 2012, but the 27-nation EU hopes to have these two areas dealt with in any new pact forged in Copenhagen.
This latest agreement was a refreshing advance after EU finance ministers failed earlier to agree on monetary assistance for developing nations that would be intended to win their support for a global climate deal.
Financial Soultions has previously reported developing nations as saying that they cannot cut carbon dioxide emissions and adjust to changing temperatures without aid from the industrialized nations, who they point out, grew prosperous by fuelling their industries with hydrocarbons and polluting the atmosphere.
There is an ever increasing argument between developed and developing nations over the amount of aid due to the emerging countries, with the U.S. recently even going as far as to request changing the terms of the Kyoto Protocol in talks held in Bangkok earlier, to remove the financial onus from themselves.
