British Treasury chief urges world officials to reach agreement on climate change costs

Source: The Canadian Press

Posted: 11/07/09 4:37AM

Filed Under: Business News

British Treasury chief Alistair Darling, Left, walks with an unidentified official at the the G20 Finance Ministers meeting in St. Andrews, Scotland. (THE ASSOCIATED PRESS/Martin Cleaver)

British Treasury chief Alistair Darling has urged the world's top finance officials to reach an agreement on bearing the cost of fighting climate change before a UN summit on global warming next month.

Addressing finance ministers and central bankers from the Group of 20 rich and developing nations on Saturday, Darling said that tackling climate change is an "urgent problem."

Darling wants officials to agree on a finance package to help poorer nations develop green industries and adapt to climate change. The EU has already agreed to a C100 billion annual package of public and private finance by 2020 and is urging the U.S. to lay out its position.

The G20 finance officials are also discussing ways to secure future global economic growth.