BRUSSELS (Reuters) - British Prime Minister Gordon Brown called on Thursday for the creation of an independent European carbon bank to improve the functioning of the EU's Emissions Trading Scheme and help fight climate change. He also called for agreement on a World Bank multilateral fund to finance investments to help poor countries transition to a low-carbon economy.
BRUSSELS (Reuters) - British Prime Minister Gordon Brown called on Thursday for the creation of an independent European carbon bank to improve the functioning of the EU's Emissions Trading Scheme and help fight climate change.
He also called for agreement on a World Bank multilateral fund to finance investments to help poor countries transition to a low-carbon economy.
"We favor the creation of an independent European carbon market bank to set caps on carbon permits and establish how the carbon market should operate in the future," Brown told a news conference with European Commission President Jose Manuel Barroso on a visit to the EU executive.
(reporting by Paul Taylor, editing by Dale Hudson)
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