"Mexican President Felipe Calderon on Monday proposed a $10 billion 'green fund' administered by the World Bank, to compensate ecological projects across the world based on the reduction of greenhouse gas emission. 'The key principle must be that the resources are paid out based on the amount of greenhouse gas you cease emitting,' Calderon said...." [Xinhua/Factiva]

AP adds that "...Calderon spoke at the opening of the latest session of the Major Economies Forum on Energy and Climate, which brings together representatives of 19 countries and the EU that together account for 80 percent of the world's greenhouse gas emissions. 'The current carbon credits would not have to disappear, but they are not an efficient mechanism,' Calderon said, noting that the credits market 'has to match an industry that wants to pollute with another' that has projects to compensate or reduce gas emissions...." [Associated Press/Factiva]

EFE writes that "...the basis of this mechanism should be 'that everyone contributes, not just rich, developed countries,' he said, though he made an exception for the world's poorest nations. There ought to be a principle of common and individual responsibilities, with industrialized countries benefiting from the fund in an amount less than they put in, while less developed countries receive more than the quota they contribute to the fund, he said...." [EFE/Factiva]