British taxpayers will have to fork out at least £1 billion a year to help poor countries cope with global warming, under an international deal being backed by Gordon Brown.
The cash – raised from a slew of new taxes and higher fuel bills – will also help developing countries in Asia, South America and Africa build wind farms and solar power plants.
The fund is a key part of this week’s climate talks in Copenhagen and is seen by developing nations as a deal maker.
The Prime Minister says the West should contribute at least $100 billion – or £61 billion - a year by 2020 to the 'climate finance' scheme. But developing countries say the figure should be at least two times higher.
Although the Government insists the costs can be met from existing budgets, most of the money is expected to be raised from taxation and new levies on power companies.