U.S. backs $100 billion climate fund

U.S. Secretary of State Hillary Clinton gives a press conference at the Bella Center in Copenhagen -- December 17, 2009

TEXT OF INTERVIEW

Bill Radke: It's the second to last day for the U.N.'s climate change summit in Copenhagen. Marketplace reporters have been there throughout. Our coverage continues now with an announcement from Secretary of State Hillary Clinton that might give negotiations a boost. Marketplace's Stephen Beard joins us live from the Danish capital. Stephen, what did Mrs. Clinton say?

Stephen Beard: Secretary Clinton said the U.S. is ready to participate in a major program of long-term financial aid to help poor countries cope with the effects of global warming:

Hillary Clinton: The United States is prepared to work with other countries toward a goal of jointly mobilizing $100 billion a year by 2020 to address the climate change needs of developing countries.

Now, she did not say how much of that $100 billion would come from the U.S. or how much would come from U.S. taxpayers. She said the money would come from a variety of public and private sources. And she added a caveat -- a deal-breaker, if you like: If there's no agreement on transparency, she said, on monitoring and enforcing climate agreements, then there'll be no money.

Radke: Did she express any concern about the way the talks are going?

Beard: Yes, she did. And she was asked by a Danish journalist, who commented on rumors that President Obama might not come to Copenhagen because of the difficulties. And here's what she said:

Clinton: The president is planning to come tomorrow. Obviously, we hope that there will be something to come for.

President Obama is scheduled to arrive in Copenhagen early tomorrow morning.

Radke: That's Marketplace's Stephen Beard live from Copenhagen. Stephen, thank you.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.

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