Bolivia, Venezuela call for more aid to fight climate change

Bolivian President Evo Morales and Venezuelan President Hugo Chavez are also in Copenhagen to attend the Climate Change Conference. Both are urging industrialized nations to help developing countries fight climate change.

Bolivian President Evo Morales says climate change has largely been caused by developed nations during their industrialization processes. He's demanding that those countries help developing nations fight climate change, and "green" their economies.

Evo Morales, Bolivian President, said, "The budget of the United States is 687 billion dollars for defense. And they want to, for climate change -- to save life, to save humanity -- they want to put up 10 billion dollars. This is shameful."

Venezuelan President Hugo Chavez has also blasted the actions of industrialized countries.

Hugo Chavez, Venezuelan President, said, "In the streets they are saying the following: if the climate was a bank, you would have already saved it. And I think that's true. If the climate was a big capitalist bank, you would have already saved it. You, the rich governments."

A formal summit of more than 120 world leaders will be held on Thursday and Friday in an attempt to break the deadlock on which nations should cut greenhouse gas emissions, by how much, and who should pay what.

Bolivian President Juan Evo Morales gestures during a press conference at the climate summit in Copenhagen, Denmark, Wednesday, Dec. 16, 2009. (AP Photo/Anja Niedringhaus)