Commonwealth agrees on climate deal
Published:Monday | November 30, 2009 | 1:33 PM
Commonwealth heads of government have agreed on a $10 billion annual contribution to assist developing countries counter the effects of global warming.
Leaders from the 53 member grouping took their decision at their biennial summit in Trinidad on the weekend.
No method for collecting and disbursing the formula was agreed upon at the meeting.
However, UN Secretary General, Ban Ki-moon said steps will be taken to ensure the pledges are honoured.
Guyana\'s President, Bharrat Jagdeo said the contributions should be regarded as a short term solution.
According to Mr. Jagdeo, smaller countries need up to $300 billion to counter the effects of global warming.