Clinton says U.S. plans to contribute to climate fund

The New York Times reports: Secretary of State Hillary Rodham Clinton announced at the Copenhagen climate talks today that the United States would participate in a $100 billion fund to help poor and vulnerable nations adapt to climate change and build more energy efficient economies by the end of the next decade.

Mrs. Clinton did not specify the American contribution to this fund, and she cautioned that the United States’ participation was contingent on reaching a firm agreement this week, one that would require a commitment from China about greater transparency in its emissions reporting.

It was the first time the Obama administration had made a commitment to a medium-term financing effort, and it was a clear effort to unblock negotiations that have been stalled. With just two days remaining in historic and contentious climate talks here, the announcement from Mrs. Clinton seemed to signal that some agreement might still be reached.

“A hundred billion can have tangible effects,” Mrs. Clinton said. “We actually think $100 billion is appropriate, usable and will be effective.”

The $100 billion figure is in line with estimates by Britain and the European Union of the needed contributions, although the amount is at the low end of the range that European countries have suggested.

Mrs. Clinton said the money would be a mix of public and private funds, including “alternative sources of finance,” which she did not specify. Nor did she say what the American share of the fund would be, although typically in such multilateral financial efforts the United States contributes about 20 percent. She said the money should chiefly flow to the poorest and most vulnerable nations and should contain a sizable amount to slow deforestation, which contributes to carbon dioxide concentrations in the atmosphere.