Tag Archives: climate change agreement

N American nations agree to push for green fund to cut carbon emissions

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Canada’s Prime Minister Harper, Mexico’s President Calderon and U.S. President Obama (L-R) pose for pictures after the North American Leaders’ Summit in Guadalajara, Mexico, August 10, 2009. The summit concluded here on Monday.

N American nations agree to push for green fund to cut carbon emissions

GUADALAJARA, MEXICO, Aug. 10 (Xinhua) — The three North American nations have agreed to push for a green fund to reward nations that cut carbon emissions, Mexico’s President Felipe Calderon said on Monday at a press conference in Guadalajara that marks the end of two days of meeting in the western Mexico city.

“We agreed a green fund and to work together to achieve a climate change agreement in Copenhagen,” Calderon said. Denmark’s capital Copenhagen will host the talks to find a new agreement to replace the Kyoto Protocol on climate change at the end of the year.

Calderon had proposed the green fund scheme at the Major Nations Climate Conference held in southern Mexican state Morelos in June. All nations would pay into the fund, but poorer nations who reduced carbon emissions would be able to withdraw more than they put in.


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Canada’s Prime Minister Harper, U.S. President Obama and Mexico’s President Calderon (L-R) leave after a joint news conference at the North American Leaders’ Summit in Guadalajara, Mexico, August 10, 2009. The summit concluded here on Monday.

“We are also working to boost our carbon bonds markets with the goal of creating an international carbon bond market,” he said.

Carbon bonds are a private sector version of the green fund, where individuals, companies and non-government organizations who can reduce emissions sell the right to make emissions to richer carbon emitters.

Speaking at the same meeting, Canada’s prime minister, Stephen Harper, said that the three leaders of the United States, Mexico and Canada had agreed that it is vital to confront climate change.

“We know that the cost of acting will be high, but the cost our people and future generations will have to pay for inaction will be incalculably more,” he said.

Calderon said the nations had agreed to make progress on green energy and technology.

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Canada’s Prime Minister Harper, Mexico’s President Calderon and U.S. President Obama (L-R) pose for pictures after the North American Leaders’ Summit in Guadalajara, Mexico, August 10, 2009.

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