The disappointment of Copenhagen showed that words and exhortations are not enough to make a fair, ambitious and binding global deal happen.

Developed countries like the UK need to live up to their promises and obligations, both by transforming their economies at home, and providing support to the developing world. In doing so, they can help to create a safer, fairer and more secure world for all of us; and ensure that millions of people already living in poverty are not further damaged and disadvantaged by the impacts of climate change.

Mitigating climate change is not only about how much rich countries cut their emissions, but also how they help developing countries curb theirs. Adapting to present and future climate change is an urgent and growing need, especially for the poorest and most vulnerable people and ecosystems.

This is an additional burden to those that the poor are dealing with already, so addressing it must be on top of existing aid commitments.

The UK must lead the way by making good on its promise to provide its fair share of $30 billion of new funding by 2012, and committing to new sources of finance to deliver the $100 billion per year from 2013 agreed in Copenhagen, over and above the target to increase aid to 0.7% GNI. This finance must be delivered in ways which enable just and democratic control of it by people living in developing countries.

In the current economic climate the sums required appear daunting, but they are well within the realms of possibility. It is entirely feasible for rich countries to raise hundreds of billions of dollars in public finance each year through innovative mechanisms – like a Robin Hood Tax Robin Hood Tax on banks, and levies or a trading scheme on international aviation and shipping – without breaking the bank.

UK leadership will be critical to crystallizing international agreement around these new sources of climate finance.