PORT OF SPAIN, Trinidad – The Commonwealth summit underway here has pulled a pledge of US$10 billion for a fund to help developing countries cope with the impact of climate change.

Word of the fast track `money on the table’ for climate change adaptation and mitigation came Friday afternoon from French President Nicholas Sarkozy who joined leaders of the 53-member Commonwealth to press for a real deal at the United Nations summit in Copenhagen, Denmark next month.

Sarkozy announced support for a US$10 billion fund annually over the next three years and at a press conference he also urged world leaders to ensure they are in Copenhagen on December 17-18 when major decisions are to be taken at the UN summit on climate change.

A clearly-enthused UN Secretary-General Ban Ki-moon and Danish Prime Minister Lars Rasmussen, who also flew here to canvass support for climate change from the Commonwealth gathering, welcomed the fund pledge from Sarkozy and British Prime Minister Gordon Brown.

At a press conference last night after a special climate change plenary by leaders, Ban said the momentum for success is growing by the day and agreement is well within reach.

Sarkozy, who met Commonwealth leaders during a special session on climate change after the opening of the summit, told reporters that seven or eight decisions should be taken in Copenhagen and all leaders should be present on those two days.

“Let me tell you my deeply felt position — it is either we take all the decisions or we take none…because we need to strike the right balance,” he said at the summit media centre.

He said there was also need to provide money to help the poorest countries of the world deal with the impact of climate change.

The French President said that together with Britain, France is guaranteeing US$10 billion to the world’s poorest countries and developing states.

“As of now, in other words as of 2010 …10 billion dollars for every year in the very first three years,” will be made available.

“I think that for me spells guarantee,” he told reporters.

Sarkozy’s visit stemmed from a climate change policy his country has adopted with Brazil ahead of the December 7-18 UN meeting in Copenhagen. The accord between France and Brazil emphasises the final objective of a global reduction of at least 50 per cent by 2050 of damaging greenhouse gases.

Sarkozy and Brazil President Luiz Inacio Lula Da Silva have said they would launch an international drive to get other countries to back the text.

Ban said at least US$10 billion is needed in fast track funding annually over the next three years adding, “We need to get every country on board.”

He and Rasmussen again urged world leaders to be in Copenhagen for the final days of the crucial conference.

“Only leaders can deliver the agreement the world needs…we must seize the moment to seal the deal”, Ban urged.

Rasmussen, who will be hosting the Copenhagen summit, said a successful agreement is within sight.

He said that from his consultations with world leaders to help pave the way for a successful conclusion in Copenhagen, his conclusion “is very clear”.

“We sense strong support at the highest level to reach an ambitious deal in Copenhagen. It is therefore my firm belief that Copenhagen is capable of delivering the historic turning point we all want and that our citizens demand.

“We know the problem. We know the solutions. We know what we need to do. So from here on and on to Copenhagen it’s only a matter of political will and a successful agreement is within reach.”

He said an agreement at the UN summit next month must be strong and clear and leaders should not be tempted to postpone action on climate change.
(GINA)