Climate Change Adaptation Fund proposed by Brown, Britain to contribute £500M

Credit: Yves Herman/Pool/EPA

A global ‘Tobin’ tax on financial transactions should be used to pay for the long battle against global warming, Gordon Brown announced in a joint statement with Nicolas Sarkozy today. The UK would be the biggest contributor, giving £500m pounds a year.

The statement came alongside a European Union commitment of €2.4bn a year from January to immediately help the world’s poor countries cope with climate change.

Read Gordon Brown’s joint statement with Sarkozy in full.

Read The Guardian report.