Charles Hendry

To ask the Secretary of State for Energy and Climate Change with reference to his Department's press release of 26 June 2009, Make or break time for our climate, what research was used in the development of the policy to establish a $100 billion fund to assist developing countries reduce their carbon dioxide emissions by 2020. ( 307601 )

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Joan Ruddock

[holding answer 15 December 2009]: We have drawn on analysis in various independent reports to calculate the scale of finance needed to tackle climate change in developing countries. The most recent, by Project Catalyst (a philanthropically funded project to develop analysis for the UNFCCC), put the total at €65-100 billion per year on average from 2010 to 2020 (€55-80 billion mitigation; €10-20 billion adaptation). The figure that the Prime Minister announced in a speech on 26 June 2009 of around $100 billion by 2020 is within this range. However, we also recognised that we must distinguish between research studies and the actual finance that countries might need for their low carbon and climate resilient growth and development. Therefore, we have proposed $100 billion a year by 2020 as a working figure for the world to focus on.

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