U.S. pledges billions; China says climate pact is doubtful

U.S. pledges billions; China says climate pact is doubtful: "COPENHAGEN -- The United States pledged Thursday to help secure $100 billion in annual financing by 2020 to help poor countries cope with climate change but said its commitment depends on whether the nations gathered here forge a substantive environmental pact that includes 'transparency' on tracking emissions cuts.

Seeking to break through an impasse, Secretary of State Hillary Rodham Clinton said the historic talks must result in an international accord that includes emission reduction commitments from both developed and major developing countries; financial and technological assistance for poor countries; and a way to independently verify the cuts all nations made. Such language is essential to U.S. senators, who have yet to pass climate legislation and would have to ratify any future climate treaty.

Clinton warned that China -- which has resisted attempts for international verification of emission cuts and told officials here before Clinton spoke that a global pact seems unlikely -- must agree to monitoring if a deal is to be reached.

'We're running out of time,' Clinton said at a news conference. 'Without the accord, the opportunity to mobilize significant resources to assist developing countries with mitigation and adaptation will be lost.'"