fund

Friday December 18, 2009

December 18, 2009

Editorial Cartoon by Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Friday December 18, 2009

Fight to control Copenhagen climate change fund

The deadlock over who should cut carbon emissions and by how much may be dominating the headlines here in Copenhagen but behind the scenes an equally big issue is being thrashed out. It’s a fight for control of the massive new fund that will challenge our changing climate.

So far there has been no agreement regarding how this money should be managed and where it should be channelled as negotiating bodies from the developed and developing worlds hold fast to their polarised positions.

“So far, we have no agreement on the new climate fund or the body that will oversee it” Jukka Uosukainen, a co-facilitator representing the developed countries in the financial negotiations told the BBC.

“But if we have an overall agreement in this summit, I think we can still reach into an agreement.”

US negotiators are backing the idea of a new climate fund which, insiders say, would have the Washington-based World Bank as its trustee.

However, the developing world groupings at Copenhagen want a new body to control the fund which would be under the direct control of the Conference of Parties. The COP brings together all 192 countries that have signed the United Nations Convention Framework Convention on Climate Change (UNFCCC). (Source: BBC News) 

 

Wednesday February 5, 2003

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday February 5, 2003

Dipping into the Sacred Trust Funds

The idea of dipping into the Hamilton Future Fund to offset a major property tax increase is understandably tempting to some city councillors. But if council keeps the long-term interests of the city in mind, as opposed to a quick fix, it will leave the fund intact and explore more prudent ways to ease this year’s tax bite.

Glorious architecture gallery

The city is currently wrestling with a projected municipal residential tax increase of 7.2 per cent — well above its 5.8 per cent guideline.

In the end, there may be no alternative to a significant tax hike if services are to remain at a decent level. But we wonder if some councillors are ready to make the tough choice in an election year.

The current environment at City Hall is tailor-made for political expediency. That’s how we view the idea of reducing taxes by using money made available to the city in proceeds from the privatization of Hamilton Hydro. (From a Spectator Editorial)