Industrialized nations look to aid pollution fight
L'AQUILA, Italy — The world's industrialized countries are looking to provide "significant financial resources" to the developing world to help them combat global warming and will ask a September meeting in Pittsburgh of the world's 20 major economies to take up the issue, U.S. President Barack Obama said today.
Poor countries have refused to commit to any reduction targets in their carbon emissions without firm pledges of financing from wealthier countries largely responsible for climate change. The dispute has been a thorn in negotiations for a new climate change treaty and scuttled any major breakthrough on targets from emerging at a Group of Eight summit here this week.
Obama told a news conference that finance ministers of the G-20 would take up proposals to finance carbon emissions reductions in the developing world at their September summit in Pittsburgh.
"We are looking at providing significant financial assistance to help these countries," he said, praising the British and Mexican leaders for having come up with "creative proposals" for the G20 to consider.
