Hillary Clinton has lent U.S. support to $100 billion from 2020 – if major developing economies also take part

The United States has lent its conditional support and funding to an international climate fund that in the long-term will provide $100 billion dollars per year from 2020 to help the poorest developing countries weather climate change.

“The United States is willing to pay its part. 100 billion dollars is an expression of strong commitment. It is an appropriate amount which will be fitting and effective,” Clinton says during her first news conference at the COP15 Climate Summit.

At the same time, the U.S. Secretary of State supports a proposal from among others the United Kingdom to find an immediate $10 billion in 2010, 2011 and 2012 for short-term financing.

But Clinton stresses that funds must primarily go to the poorest and most vulnerable countries and that the United States will only inject major funds if the big developing economies such as China also shoulder their responsibility.

“The United States will work for a constructive climate agreement. There should be no doubt that there must be funding here in Copenhagen so that we can meet the global challenge we face. But it must be a common effort,” Clinton says.

At the same time Clinton repeats the U.S. position that China cannot hide behind its status as a developing nation. China, Clinton says, is the biggest CO2 emitter and soon the biggest economy, and demands clear and verifiable targets for greenhouse gas reductions.

“There must be a will for transparency. If there isn’t, the possibility of reaching an agreement is dead. We have said this repeatedly,” Clinton says.

Quotes are translated from Danish

(Edited by Julian Isherwood, Politiken.dk, 17/12/2009)