|PIC1|The latest round of EU talks on climate finance are “demoralising” for poor communities hardest hit by climate change, says Tearfund.

EU leaders meeting in Brussels agreed on Friday to commit 22 to 50 billion euros per year by 2020 to developing countries. Tearfund said the amount fell short of what was needed for a “strong and fair agreement” at the UN climate change summit in Copenhagen in December.

The Christian aid agency estimates that at least 110 billion euros of new and additional public finance is needed annually and is calling upon the EU to contribute at least 35 billion euros.

Tearfund’s Head of Policy Laura Webster said: "This outcome is demoralising for developing countries, who shouldn't have to pick up the tab for a climate crisis that is not of their making.

"We are weeks away from Copenhagen and the current lack of political will and leadership being demonstrated is shocking."

The Christian aid agency wants the EU to agree to new funding over and above the 0.7 per cent of GNI they contribute in Official Development Assistance. It recommended that the EU endorse new sources of finance such as levies on international aviation and shipping to secure the funding.

It also called upon the EU to make tougher mid-term cuts in its carbon emissions, warning that the target of 20 per cent cuts by 2020 was “well below” the recommendation by scientists.

“Tearfund welcomes the announcement that Europe will aim for 80-95 per cent cuts on 1990 levels by 2050, but action in the next few years is crucial," said Webster.

"They must commit to what the science requires – a target of at least 40 per cent cuts on 1990 levels by 2020.”

The outcome of this week’s talks, she added, “just feeds the growing concern of whether we are likely to see justice for those hit hardest by climate change in Copenhagen".