madam president i am concerned that the commission's calculations on international climate finance are just smoke and mirrors
first it has claimed that ninety of energy efficiency measures can be financed by developing countries themselves
that is eur thirty billion per annum
in the eu the biggest obstacle to introducing energy efficiency measures for both governments and for individual citizens is the lack of upfront financing
why does the commission believe that developing countries can finance efficiency measures without upfront funding when eu member states themselves have struggled to do so
also the idea that the international carbon market can fund eur thirty-eight billion a year is unrealistic
we have seen how slow the eu ets carbon market has been to get off the ground and how badly the carbon price has been thrown off course by the economic crisis
it is likely to be many decades before there is a properly functioning international carbon market so we need a new and additional financing measure now
