U.S. Pledges $100B for Developing Nations' Global Warming Aid

Secretary of State Hillary
Clinton announced in Copenhagen that the U.S. will contribute to a $100 billion fund to help
developing nations deal with global warming provided that an effective climate
agreement is reached, a promise that United Nations climate chief Yvo de Boer
said helped get the summit back on track prior to Friday's pact.

Clinton's announcement came
during a news conference at the U.N.-led climate talks in Copenhagen, and
included the stipulation that the U.S. will only help raise the money if
quickly developing nations like China and India-among the world's heaviest
carbon polluters-accept binding agreements and agree to international

"In the absence of an
operational agreement that meets the requirements that I outlined, there will
not be that financial agreement, at least from the United States," said
Clinton. "Without that accord, there won't be the kind of joint global
action from all of the major economies we all want to see, and the effects in
the developing world could be catastrophic."

"Secretary of State
Clinton's announcement today sets up an important moment for the world that for
the first time offers a clear path forward to cut pollution, protect tropical
forests and provide humanitarian aid to those in harm's way," said Jeremy Symons, senior vice president at
National Wildlife Federation. "As the world's leaders converge tomorrow,
they have an historic opportunity to break through years of stalemate."

Clinton said the aid funds
would come from a combination of public and private contributions, including
money raised as part of a carbon pollution limiting system similar to that
outlined in the House-passed American Clean Energy and Security Act.

Published: December 22, 2009