The Minister of State for Environment and Forests, Mr Jairam Ramesh, said it is unfortunate that even after 14 months of the Copenhagen Accord under the so-called Fast Finance Track window, there is hardly any significant disbursement.

Speaking at the end of two-day meeting of BASIC Ministers on Climate Change here on Sunday, Mr Ramesh said, “All of us welcomed the Cancun Agreements. It was a positive step forward and Cancun Agreements provided a stage for resolution of some outstanding political issues. We were equally convinced that the Cancun Agreements are not a substitute for the ‘Bali Road Map' that are not present in the Cancun Agreements. Basic growth of countries will make every effort to bring these issues back in the main stream of global climate change negotiations.”

He said, in particular, three issues were identified — the issue of equity, the issue of intellectual property rights and the issue of trade.

“We need to continue the negotiations in 2011 leading up to Durban in a sprit of inclusiveness and transparency. Many issues on which we need further clarity. Two most critical issues are of second commitment period of the Kyoto protocol and the issue of Fast Track Finance. It is highly regrettable and most unfortunate that even after 14 months of Copenhagen Accord, under the so called Fast Track Finance (FTF) window, there is hardly any significant disbursement. This was a commitment of $30 billion , over a 3-year period. Fast Start Finance was meant for South Africa, small island States and for the LDCs,” he added.

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