Clinton’s adaptation pledge
by Timothy Profeta -- December 17th, 2009
Clinton pledges to raise $100M, one of the three tenets of a deal. But will the developing world give her verification?
Hopeful announcement from Hillary Clinton, which tracks the request from the developing nations (see What A Deal Would Look Like post above). It will be interesting to see what it begets.
The E&E story:
1. COPENHAGEN: Hillary Clinton pledges to raise $100B for developing countries (12/17/2009 at 06:33 AM)
Lisa Friedman, E&E reporter
COPENHAGEN — Secretary of State Hillary Rodham Clinton has pledged the United States to raise $100 billion annually through 2020 to help poor countries cope with climate change.
The money would come from public and private funds mobilized by the United States and other unspecified nations. But it will only happen if major emerging developing countries agree to binding emission targets that can be verified internationally, she warned.
“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,” Clinton said.
Speaking to a packed press room just hours after arriving in Copenhagen where U.N. climate talks are reaching a climax, Clinton said that the United States is “ready to do our part” and called on all countries to start compromising.
But she also laid down the Obama administration’s position in the clearest terms yet: without an agreed method to ensure that developing countries are taking their mitigation vows seriously, long-term money from the United States won’t be forthcoming.
“If there is not even a commitment to pursue transparency, that is a deal breaker for us,” Clinton said.
The proposed fund is on the low end of what the European Union and others says is needed. It also would go only to the poorest countries, Clinton stressed. It remains unclear what portion would come from the United States, and Clinton also did not specify how much immediate money would be available from America.
Immediate reaction from environmental activists was positive. Groups said the announcement would put the onus on China now to compromise.
“That’s big,” said Gene Karpinski, president of the League of Conservation Voters. “We’re finally getting serious.”