At the end of UN climate talks in POZNAN, Poland, developing nations criticized rich countries for their lack of generosity. They were disappointed by the small size of the Adaptation Fund, which was only $80 million. This amount was seen as a negative sign halfway through the negotiations for a new treaty to combat global warming, set to be agreed upon in Copenhagen in 2009. Colombian Environment Minister Juan Lozano expressed sadness and disappointment, stating that the talks did not address the human impact of climate change on vulnerable populations. The talks were overshadowed by concerns that the global economic downturn was affecting funding from donors. Prodipto Ghosh, the Indian representative, expressed that the current situation is one of the most heartbreaking moments he has seen in his 12 years of attending U.N. climate meetings. Other nations such as Brazil, Costa Rica, and Maldives shared similar sentiments. Many delegates are hopeful that the incoming U.S. President, Barack Obama, will implement more aggressive climate policies. At the talks in Poland, environment ministers established regulations for the Adaptation Fund, aimed at assisting developing countries in building flood defenses, creating drought-resistant crops, and issuing storm warnings. Polish Environment Minister Maciej Nowicki, the host of the talks, stated that the launch of the fund was the most significant accomplishment of the event in Poznan. The fund, which may begin distributing funds in 2009, currently has $80 million but is expected to increase to $300 million annually by 2012. According to U.N. projections, developing nations will require tens of billions of dollars per year by 2030 to address climate change. Poland spent 24 million euros ($31.84 million) to host the Dec. 1-12 conference. Developing countries alleged that wealthy nations hindered an agreement in Poznan on a broader funding mechanism that could potentially generate around $2 billion annually. This matter was postponed until 2009. Yvo de Boer, the leader of the U.N. Climate Change Secretariat, stated that the discussions successfully accomplished their objectives, although he recognized that there was some discontent. He mentioned that only half of the work needed for Copenhagen had been completed. Despite this, he noted that Poznan had successfully fulfilled its main goal of assessing advancements towards a comprehensive new worldwide climate agreement to be finalized in Copenhagen in December 2009 as a replacement for the Kyoto Protocol. However, environmentalists held a different opinion. Stephanie Tunmore, a member of the Greenpeace environmental group, expressed deep disappointment with the lack of progress. She mentioned that taking stock of the situation was not difficult, as there had been minimal action in 2008. Environmentalists criticized Australia, Canada, Japan, and New Zealand for hindering progress and not setting ambitious targets to reduce emissions. In contrast, 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. He mentioned that everyone agreed that addressing climate change is compatible with addressing the economic crisis. EU ministers in Poznan were relieved after EU leaders in Brussels reached an agreement on Friday to reduce greenhouse gases by 20 percent below 1990 levels by 2020, despite having to make costly concessions to eastern European countries. Through the Adaptation Fund, funds are raised through a 2 percent levy on a U.N. system of projects aimed at reducing greenhouse gas emissions in developing countries. To date, the levy has generated 60 million euros ($80 million).