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The Copenhagen Accord, put forward by a U.S.-led group of five nations — including China, India, Brazil and South Africa — also promises to deliver $30 billion US in aid over the next three years to help developing nations reduce emissions.
Industrialized countries could channel $100 billion US a year to poorer nations by 2020, but the money is contingent upon them submitting to UN monitoring.
Although the agreement was not formally approved, the conference president said that delegates at
FRED KRUPP, HEAD OF THE ENVIRONMENTAL DEFENSE FUND
Today’s agreement takes the first important steps toward true transparency and accountability in an international climate agreement. The sooner the U.S. speaks through Senate legislation, the sooner we can set the terms of engagement for talks to come.”