Poor countries criticized rich nations for being stingy at the conclusion of UN climate talks in POZNAN, Poland. They were disappointed with the small size of the Adaptation Fund, which is only $80 million, as it is seen as a negative sign halfway through the two-year negotiations for a new global warming treaty to be finalized in Copenhagen in 2009. Colombian Environment Minister Juan Lozano expressed sadness and disappointment at the talks, emphasizing that the human impact of climate change on orphans and victims was not given enough consideration. This lack of support is viewed as a troubling indication for the upcoming Copenhagen summit. Indian delegate Prodipto Ghosh expressed his sorrow at the current situation during the 189-nation talks, noting that it was one of the saddest moments he had seen in his 12 years of attending U.N. climate meetings. Other countries such as Brazil, Costa Rica, and Maldives echoed similar sentiments. Many delegates were hopeful that the incoming U.S. President, Barack Obama, would implement more stringent climate policies. At the talks in Poland, environment ministers established rules for the Adaptation Fund, aimed at assisting developing nations in creating flood defenses, cultivating drought-resistant crops, and issuing storm warnings. Polish Environment Minister Maciej Nowicki, who was hosting the talks, stated that the launch of the fund was the most significant achievement of the conference in Poznan. The fund, which could begin distributing money in 2009, currently has $80 million but has the potential to increase to $300 million annually by 2012. According to U.N. projections, developing countries will require tens of billions of dollars per year by 2030 to address the effects of climate change. Poland spent 24 million euros ($31.84 million) to host the conference from December 1-12. Developing nations alleged that wealthy countries hindered an agreement in Poznan on a broader funding mechanism that could generate approximately $2 billion annually. This matter was postponed until 2009. Yvo de Boer, the leader of the U.N. Climate Change Secretariat, stated that the negotiations had accomplished their goals but admitted there was some discontent. He noted that only half of the work for Copenhagen had been completed. However, he believed that the main objective of the Poznan talks was achieved, which was to assess progress towards a new global climate treaty to be finalized in Copenhagen in December 2009 as a replacement for the Kyoto Protocol. Environmentalists had a different perspective on the outcome. Stephanie Tunmore from the Greenpeace environmental group expressed deep disappointment with the lack of progress in the meeting. She noted that the stocktaking process was not challenging, as not much had been accomplished in 2008. Environmentalists criticized Australia, Canada, Japan, and New Zealand for hindering progress and not setting ambitious targets to reduce emissions. In contrast, countries like Mexico, China, and South Africa presented proposals to address the issue of increasing emissions. European Environment Commissioner Stavros Dimas stated that discussions were progressing well and that the effort to combat climate change is in line with addressing the economic crisis. European Union ministers in Poznan were pleased after EU leaders in Brussels reached an agreement to reduce greenhouse gases by 20 percent below 1990 levels by 2020, although concessions had to be made to east European countries. The Adaptation Fund, which raises funds through a 2 percent levy on U.N. projects aimed at reducing emissions in developing nations, has collected 60 million euros ($80 million) to date.