As part of the process of implementing these decisions, in October 2007 the Economic Affairs Sub-committee of the MAC met in Entebbe to develop a strategic framework which can fast track EAC Monetary Union in 2012. The Sub-committee discussed the convergence criteria and timeframe; the model protocol and institutional structure of the EAC Monetary Union; and harmonization of macroeconomic statistics.
The European Commission is currently creating legislation to increase funding for the green economy. This supplements the EU Emissions Trading Scheme and the EU CO2-emission targets. This is also good news, but not enough. What we need is action at the global level.