A draft report for European Union finance ministers suggests that by 2020, poor countries will require around 100 billion euros ($142 billion) annually to assist them in reducing emissions as part of the fight against climate change. The report, obtained by Reuters, outlines plans for competitive tenders to be held by the EU for funding from wealthier countries, where developing nations can present their most cost-effective projects for reducing carbon emissions. These documents demonstrate the EU's developing strategy leading up to the global climate talks in Copenhagen in December. Finance ministers will further refine the bloc's stance at a meeting scheduled for next Tuesday. The primary focus in Copenhagen will be securing the necessary funding to encourage developing nations to reduce emissions, as well as additional funding to help them adapt to the impacts of climate change that they argue have been caused by affluent, industrialized nations. Between 50% and 66% of the most cost-effective options for reducing greenhouse gas emissions by 2020 or 2030 are located in developing countries, according to a report by the EU's Economic Policy Committee and the Economic and Financial Committee on funding requirements. Environmentalists view this report as evidence that Europe's economic experts acknowledge the importance of supporting developing nations in combating climate change. Greenpeace campaigner Joris den Blanken questions whether finance ministers will heed the advice of their own experts and provide the necessary support to developing countries. The report suggests that emissions reductions in poor nations could be self-sustaining, as improvements in power generation and industry would lead to decreased reliance on expensive fossil fuels. However, an additional 100 billion euros annually in investments would still be necessary by 2020, including 71 billion euros for industrial and energy sector improvements, 18 billion euros for rainforest preservation, and 5 billion euros for agricultural emission reductions. The numbers may seem large, but they are less overwhelming when compared to the substantial subsidies for fossil fuels and agriculture in both the developing world and OECD states. The report states that in addition to reducing their own emissions, poorer nations will also need assistance with adapting to climate change, which may involve developing drought-resistant crops, building levees, or finding new sources of fresh water. The exact cost of adaptation in developing countries is challenging to determine due to uncertainties surrounding the impacts of global warming, but the report estimates that it could range from 23-54 billion euros per year by 2030.