Secretary of State Hillary Clinton said the US would consider establishing a $100 billion annual climate aid fund for poorer nations. Clinton said the proposal is contingent on the Copenhagen talks resulting in a comprehensive deal.

Secretary of State Hillary Clinton: “And today I’d like to announce that in the context of a strong accord, in which all major economies stand behind meaningful mitigation actions and provide full transparency as to their implementation, 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.”

The US proposal has already come under criticism as insufficient. Erich Pica of the group Friends of the Earth said, “[This] looks like a shell game. The amount falls far short of what the United Nations says is needed, [condemning] the poorest to languish in poverty while the world suffers from climate chaos. In addition, loans and private investments must not substitute for public money, and it is unclear how much of this package is public.”