U.N. Climate Conference close to deal on Climate Fund

Negotiators are close to agreeing the shape of a Green Climate Fund, which is designed to help poor nations tackle global warming and nudge them towards a new global effort to fight climate change. Rich countries have pledged up to $100 billion a year by 2020 to aid poor states most directly affected by rising global temperatures to adapt their economies and protect themselves from adverse weather. But critics say it could remain a hollow shell unless there is also agreement on where the actual funds come from -- and how the money is spent. "I have a fair amount of confidence this is going to get done in a positive way," U.S. climate envoy Todd Stern told reporters on Wednesday. Only a few technical operational details remained to be thrashed out, he said. China has said it wants the fund set up before it will make its domestic climate efforts binding under an international agreement from 2020. Other important developing countries also want the fund's design agreed in Durban.