Posted December 17, 2009
In a conference room, locked out of the Bella Center, I just watched Hillary Clinton make a bold announcement that should give a lift to the stalled talks in Copenhagen. The administration’s commitment to contribute to a $100 billion global fund to curb deforestation and help the world's' most vulnerable countries adapt to impacts of global warming that can no longer be avoided is a major step. But Secretary Clinton made it clear that this step will only be taken if there is an operational agreement that includes transparency on the emission reductions being made by all major emitters.
Right now industrialized countries provide $60 billion in fossil fuel subsidies annually. Just redirecting those subsidies could go a long way toward the funding target as we seek a pathway to a low carbon clean energy future. We are hopeful for additional breakthroughs throughout the day and tomorrow as world leaders arrive.
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