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Clinton Says U.S. Would Take Lead on $100 Billion Climate Fund

Filed under: Uncategorized — March 4, 2010 @ 3:00 am

Secretary of State Hillary Rodham Clinton said the United States would help to raise $100 billion annually through 2020 for a fund to help poor countries adapt to climate change — but only if all countries submit to outside verification of their carbon emissions.

Until now, the United States had committed only $1.2 billion to such a global fund for 2010, and support for a $10 billion global fund through 2012. The European Union also made an offer of $3.6 billion annually through 2012. But developing nations and U.N. leaders have repeatedly urged rich countries to kick in more, and Japan upped the ante last night with a commitment of $15 billion annually for two years.

Clintons offer drew a muted response from China, which has refused any proposal that would allow outside inspectors to monitor its emissions reductions.

“We expect this funding will come from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources of finance,” Clinton said. “This will include a significant focus on forestry and adaptation, particularly, again I repeat, for the poorest and most vulnerable among us.”

Clinton stressed that building the fund will require some creativity.

“I think the Chinese have in mind a simple statement. But were trying to get an agreement. Everything is still in flux,” said U.S. climate envoy Todd Stern.

China seemed prepared only to offer a short statement of intent on climate change mitigation.

“Americans are struggling to make ends meet and provide for their families this holiday season. It will be hard to convince them that sending billions to China is an appropriate use of their tax dollar,” said a statement from the office of Sen. Lisa Murkowski, R-Alaska, the top Republican on the Energy and Natural Resources Committee.

Clintons offer, meanwhile, did not play well with at least one Republican on Capitol Hill.

“Secretary Clintons announcement helps us pursue the best possible outcome in Copenhagen because it asserts American leadership and isolates China rather than the Chinese blurring lines to isolate us,” Kerry said. “Financing is a major step forward, and now we need to reach common ground on decisive national mitigation actions and transparency that provide credibility to the entire process. China needs to rejoin the effort and start playing a constructive role.”

Sen. John Kerry, D-Mass., chairman of the Foreign Relations Committee, who gave a well-received speech Wednesday at the Copenhagen conference, pressured China to respond to Clintons offer.

Speaker Nancy Pelosi, D-Calif., is also in Copenhagen with a congressional delegation that includes several Republicans, including Joe L. Barton of Texas, the ranking member on the House Energy and Commerce Committee.



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