Where does all the money to fight global warming go? Answering that question has become a little easier after the Cancún conference, according to the Dutch Minister for the Environment Joop Atsma.

Speaking to Radio Netherlands Worldwide, Mr Atsma said he is satisfied with the outcome, seeing that the Dutch have helped improve accountability.

Below two degrees
Last year's climate summit in the Danish capital Copenhagen failed, prompting fears that Cancún too would become a failure. But at the very last moment, the 190 or so participating countries agreed on measures to combat climate change. The countries have agreed to try and keep the global temperature rise below two degrees Celsius.

The Dutch delegation's main aim was to create better accountability for the money spent on fighting climate change. A website will be set up to help make this clearer.

"The Netherlands found that very important. We want to know exacly how the money is being spent, by whom, and what the results are. Many donor countries have no way of checking, which is leading to a lot of scepticism."

Just 20 percent?
Deals were also reached in Cancún about the actual reduction of CO2 emissions. The countries which signed the Kyoto protocol promised to cut their joint CO2 emissions back by 25 to 40 percent in 2020. The Dutch cabinet is aiming slightly lower, for 20 percent, and Greenpeace has said that the Netherlands should adjust its policies. But Mr Atsma is certain that the global aim will be reached.

"The aim of 25 to 40 percent reduction is caused by the presence of big industrial powers like China and the US in the equation. If everybody lives up to their promises, that reduction will be achieved. The Netherlands should start by keeping to the 20 percent cut as agreed in Europe."

Green Fund
Other results of Cancún include deals on stopping deforestation and on exchanging technology and knowledge. A new Green Fund will be established which will hold 100 million dollars by 2020. That money should help poorer countries to fight the adverse effects of climate change.

Mr Atsma thinks that realising the targets could prove a daunting task, and has a word of warning:

"Don't try to raise your targets at this stage - we can do that later. It will be quite an operation to make sure that everyone is taking their responsibility. Let's first realise what we agreed here, and not pile new ambitions and targets on top of that."