U.S., Japan, Britain to Propose Clean Technology Fund
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WASHINGTON -The United States, Japan and Britain will jointly propose setting up a new fund as early as this year to help developing countries reduce greenhouse gases at a meeting next week, a senior U.S. Treasury official said Tuesday.
The fund aims to help developing countries introduce clean energy technologies. It targets emerging nations such as China and India that are major emitters of greenhouse gases but facing financial difficulty in introducing such technologies.
The United States, Japan and Britain will promote the fund when Group of Seven finance officials meet in Tokyo on Feb. 9, David McCormick, U.S. treasury undersecretary for international affairs, said.
In his annual State of the Union address Monday, U.S. President George W. Bush pledged to extend 2 billion dollars over the next three years to the effort.
Britain has pledged to donate part of its pool of 800 million pounds to the fund. In his speech at the World Economic Forum last week, Japanese Prime Minister Yasuo Fukuda unveiled plans to provide 10 billion dollars toward the effort.
Filed by Egor Ouzikov under Climate Change