GHG fund could slash biofuels subsidies
The proposal for an international fund to cut greenhouse gas emissions costs could remove biofuels subsidies.
UK Prime Minister Gordon Brown has proposed the creation of an international $100 billion (€70 billion) annual fund to distribute to developing nations to cut GHG costs, but also recommends a cut in biofuel subsidies.
Brown recommends that subsidies for agriculture and biofuels and other ‘damaging trade-distorting measures’ be removed.
Brown urged that steps must be taken to cut the consumption of products that lead to deforestation.
He argued that the economic incentives that drive deforestation should be curbed, while rainforest nations need support to sustain and rebuild forests.
UK Prime Minister Gordon Brown has proposed the creation of an international $100 billion (€70 billion) annual fund to distribute to developing nations to cut GHG costs, but also recommends a cut in biofuel subsidies.
Brown recommends that subsidies for agriculture and biofuels and other ‘damaging trade-distorting measures’ be removed.
Brown urged that steps must be taken to cut the consumption of products that lead to deforestation.
He argued that the economic incentives that drive deforestation should be curbed, while rainforest nations need support to sustain and rebuild forests.
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