February 12, 2010 8:49 PM

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UN Secy. Gen. forms hi-level Committee to mobilise funds for developing nations to battle climate change

UN chief Ban Ki-moon launched a high-level advisory panel today to mobilise funding to help developing nations battle climate change.<br/><br/>The panel, to be led by Britain's Prime Minister Gordon Brown and his Ethiopian counterpart Meles Zenawi, aimed "to mobilise the resources for climate change pledged at the recent climate change conference in Copenhagen.<br/><br/>The group, evenly balanced between developed and developing nations, will develop practical proposals to significantly scale up long-term public and private<br/>financing for mitigation and adaptation strategies in developing countries.<br/><br/>The panel was set to include heads of state and government, top officials from ministries and central banks as well as experts on public finance, development and related issues.<br/><br/>Ban said the group would specifically seek to marshal new and innovative resources to reach a 100-billion-dollar target by 2020 to fund adaptation, mitigation, technology development and transfer, and capacity building in developing countries, with priority for the most vulnerable.

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