Dem's pressure Hillary for "global climate fund"

Senior Democrats on the House Foreign Affairs Committee are urging Secretary of State Hillary Rodham Clinton to press for an independent “global climate fund” that helps developing countries. The Democrats want Clinton to push for the fund at the United Nations climate summit late this year in Mexico. In a letter Tuesday, the chairmen of five subcommittees say the fund – which would help developing nations adapt to climate change and curb emissions – must be independent of existing financial institutions. The call for an independent fund comes as some non-governmental groups fear that a program under the World Bank or other development banks would face undue influence from large corporations and rich nations. UN climate talks are underway in Tianjin, China this week ahead of the major summit in Cancun that begins in late November. The House Democrats’ letter says that helping to establish the fund will re-assert U.S. credibility on climate change in the absence of a U.S. emissions law...more