US President Barack Obama has decided to attend the end of the Copenhagen climate change summit, a change in plans attributed to the White House to the growing momentum towards a new global agreement. Initially scheduled to attend the summit in Denmark on December 7-18 before traveling to Oslo to receive his Nobel Peace Prize, Obama's decision came as a surprise to some European officials and environmentalists who believed most of the crucial negotiations on reducing greenhouse gas emissions would occur towards the end of the summit when many other world leaders are also expected to be present. The White House stated that progress has been made towards a meaningful accord in which all countries commit to taking action against the global threat of climate change, leading to Obama's decision to attend the summit. More than 100 world leaders have confirmed their attendance at the conference, which Denmark hopes will set the groundwork for a new agreement to succeed the 1997 Kyoto Protocol on reducing global warming gases. The White House stated that the president has decided to participate in the Copenhagen conference on December 18th instead of December 9th, based on his discussions with other leaders and the progress made in negotiations. There is a growing consensus among countries like China and India to set emission reduction targets and provide financial assistance to developing nations to address global warming, which has been a major obstacle in reaching a new UN agreement. Danish Prime Minister Lars Lokke Rasmussen and British Prime Minister Gordon Brown both welcomed Obama's decision, believing it will help in sealing an ambitious climate deal in Copenhagen. The United States plans to pledge to reduce its greenhouse gas emissions by roughly 17 percent below 2005 levels by 2020 at the conference. It was the final major industrialized nation to establish a target for reducing greenhouse gases as part of a United Nations initiative to combat global warming. The Copenhagen conference is expected to result in a political agreement that includes goals for reducing greenhouse gas emissions by wealthy countries by 2020. Negotiations for a successor to the Kyoto Protocol will be postponed until 2010. President Obama has had discussions about the progress of the negotiations with leaders from Australia, Germany, France, and the United Kingdom. There is a growing consensus that a key component of the Copenhagen agreement should be to secure $10 billion annually by 2012 to assist developing nations in addressing climate change. It was stated that the United States will pay its fair share of the amount, while other countries will also make substantial commitments. Environmentalists praised Obama's decision and urged him to adjust his administration's emissions reduction target accordingly. Martin Kaiser of Greenpeace International commended Obama for listening to global outcry and accepting the significance of the upcoming meeting. Kaiser also emphasized the need for Obama to align his emissions reduction targets and financial contributions with what climate science requires.