U.N. to launch new round of talks on global warming

By Karl Ritter

Associated Press

Published: Sunday, Nov. 25 2012 9:47 a.m. MST

While that short-term goal has nearly been met by countries including the EU, Japan, Australia and the U.S., Oxfam estimates that only one-third of it was new money; the rest was previously pledged aid money repackaged as climate financing. Oxfam also found that more than half of the financing was in the form of loans rather than grants, and that financing levels are set to fall in 2013 as rich countries rein in aid budgets amid debt problems and financial instability.

Meanwhile, the concentration of carbon dioxide in the atmosphere keeps going up. It has jumped 20 percent since 2000, primarily from the burning of fossil fuels such as coal and oil, according to a U.N. report released last week.

A recent projection by the World Bank showed temperatures are on track to increase by up to 4 degrees C (7.2 F) this century, compared with pre-industrial times, overshooting the 2-degree target on which the U.N. talks are based.

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