Clinton Makes Major Financial Pledge At Climate Summit, Calls Out China

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Clinton makes major financial pledge at climate summit, calls out ChinaOn the eve of President Barack Obama’s arrival at the global climate summit in Copenhagen, Denmark, Secretary of State Hillary Clinton announced that the U.S. would help raise $100 billion a year by 2020 to help developing nations combat climate change, provided that other affluent nations live up to the "transparency" demanded by the U.S.

The declaration was a clear attempt to re-energize the pursuit of a global agreement after nearly two weeks of contentious debate that has produced minimal results.

Clinton referred directly to China when she indicated that there are strings attached to the U.S.’s pledge.

"I have often quoted a Chinese proverb which says that when you are in a common boat, you have to cross the river peacefully together," she said. "Well, we are in a common boat. All of the major economies have an obligation to commit to meaningful mitigation actions and stand behind them in a transparent way."

It is still unclear whether China plans on participating in the proposed agreement or if they will even remain at the summit, Fox News reports.

Meanwhile, Senator John Kerry (D-Mass.) said last week that the Senate would pass its own version of climate change legislation in the spring of 2010.

Senator Jim Inhofe (R-Okla.) responded, "there are maybe 25 votes in the Senate for cap and trade. You need 60. John Kerry misled the people. He said something binding would happen by April 22. That is not going to happen. Wait and see if I am right or John Kerry."
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