This is clearly an attempt by Obama to prop up third-world dictators. There’s no mention about how spending of any of this money will mitigate the effects of climate change or even what those effects will be. I figure it will officially be spent on things such as flood control for coastlines or biofuels, but actually will be spent on gold-plated HK .45s and shopping trips to Paris and Milan.
This announcement matches the agreement with China on trade and carbon emmissions for emptiness.
No doubt a certain amount of the money handed out will make its way to the DNC as political contributions before 2016.