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The Select Committee on Energy Independence and Global Warming addressed our nation's energy, economic and national security challenges during the 110th and 111th Congresses.

This is an archived version of the committee's website, where the public, students and the media can continue to access and learn from our work.
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Markey: Waxman-Markey Funding Can Aid U.S. Commitment for Developing Countries

Markey Part of Congressional Delegation Arrived Today in Copenhagen

Funding from the House-passed Waxman-Markey climate bill can help the United States provide its fair share of the financing commitment to developing countries made today by Secretary of State Hillary Clinton. Sec. Clinton today announced that the United States is prepared to jointly mobilize $100 billion in financing from the developed world to the developing world by 2020, including programs to avoid deforestation and to help poor countries adapt to the increasing effects of climate change.

The Waxman-Markey bill, which passed in June, includes several funding streams for the very mechanisms Sec. Clinton mentioned in her announcement. The funds would be raised by the operation of Waxman-Markey's pollution program.

  • Over the first ten years of the program, Waxman-Markey dedicates tens of billions to programs to avoid deforestation in developing countries, providing a cost-effective way to reduce emissions.
  • Over the first ten years of the program, Waxman-Markey provides billions in funds for clean energy technology transfer to developing countries.
  • Waxman-Markey also includes tens of billions in funds for international adaptation programs.

"The United States must take responsibility for our historical emissions, while also seizing the opportunity that will come with re-engaging with the developing world on emissions-cutting clean energy technologies and other programs," said Rep. Edward J. Markey (D-Mass.), co-author of Waxman-Markey bill and chair of the Select Committee on Energy Independence and Global Warming. "If the United States does its fair share to provide funding to the developing world, I believe we will reap the lion's share of the benefits in the clean energy marketplace."

Rep. Markey is part of the U.S. House congressional delegation led by Speaker Nancy Pelosi that arrived today in Copenhagen to assist with the climate talks.

PLEASE NOTE: The House Select Committee on Energy Independence and Global Warming was created to explore American clean energy solutions that end our reliance on foreign oil and reduce carbon pollution.

The Select Committee was active during the 110th and 111th Congresses. This is an archived version of the website, to ensure that the public has ongoing access to the Select Committee record. This website, including external links, will not be updated after Jan. 3rd, 2010.

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