* Group seeks "operationally binding" pact in Copenhagen
* Wants "full legally binding" accord no later than 2010
* Developing states say far more adaptation money needed (Adds comments on finance offer from Guyanese President)
By Pascal Fletcher
PORT OF SPAIN, Nov 28 (Reuters) - Commonwealth nations representing one-third of the world's population threw their weight on Saturday behind accelerating efforts to clinch an "operationally binding" U.N. climate deal in Copenhagen next month.
Leaders of the 53-nation Commonwealth meeting in Trinidad and Tobago used their summit to bolster a diplomatic offensive seeking wide consensus on how to fight global warming before Dec. 7-18 U.N. climate talks in the Danish capital.
"The clock is ticking to Copenhagen ... we believe that the political goodwill and resolve exists to secure a comprehensive agreement at Copenhagen," Australian Prime Minister Kevin Rudd told a news conference in Port of Spain.
The Commonwealth Climate Change Declaration pledged the group's backing for Danish Prime Minister Lars Lokke Rasmussen in his efforts to secure wide attendance and commitment from world leaders at the Copenhagen climate talks.
"We pledge our continued support to the leaders-driven process ... to deliver a comprehensive, substantial and operationally binding agreement in Copenhagen leading towards a full legally binding outcome no later than 2010," the Port of Spain declaration said.
Tackling the thorny issue of funding for poor nations' efforts to fight climate change and global warming, developed countries in the Commonwealth led by Britain backed an initiative to establish a Copenhagen Launch Fund, starting in 2010 and building to $10 billion annually by 2012.
Reflecting debate that has dogged the road to Copenhagen, developing states said much more money needed to be committed by rich nations to help poorer countries counter global warming and adapt to the pollution-reducing requirements of a climate deal.
"Right now, there is no commitment of the magnitude that is required. ... We need close to 1 percent of global GDP, $300 billion, to address this problem," Guyana's president, Bharrat Jagdeo, who heads the economic task force of the 15-nation Caribbean Community, or Caricom, told reporters.
Jagdeo welcomed what he called the $10 billion offer of "interim financing."
'COME TO COPENHAGEN'
Rasmussen and U.N. Secretary-General Ban Ki-moon, who joined the Commonwealth leaders' discussions in Port of Spain, welcomed the climate declaration from the group.
Ban said world leaders should "stay focused, stay committed and come to Copenhagen to secure a deal."
Rasmussen said 89 heads of state and government had so far advised they would attend next month's talks in Copenhagen, and Trinidad and Tobago's prime minister and the Commonwealth summit's host, Patrick Manning, announced he would be there too, bringing the total expected number to 90.
While next month's U.N. talks are not expected to result in the immediate approval of a detailed climate treaty, the wording of the Commonwealth climate declaration made clear its leaders expected any deal reached in Copenhagen would be "operationally binding" and lead fast to a definitive treaty.
Ban has said an agreement to lay the foundation for such a legally binding accord is now "within reach."
The deal the United Nations is aiming for in Copenhagen would cover tougher emissions targets, climate financing for poorer nations and transfer of clean-energy technology.
The climate treaty, expected to be adopted as a final text next year, will replace the Kyoto Protocol expiring in 2012.
Commonwealth leaders suggested that 10 percent of the proposed $10 billion-a-year Copenhagen Launch Fund should be channeled to small island states most at risk from rising sea levels caused by global warming.
Nearly half of the Commonwealth's members are small island states and the group put at the forefront of the climate debate the cases of nations like the Maldives in the Indian Ocean and Tuvalu and Kiribati in the Pacific, whose existence would be threatened by swelling ocean levels.
Earlier, Maldives President Mohamed Nasheed welcomed the backing of the Commonwealth's developed countries -- Britain, Australia, Canada, and New Zealand -- for the proposed "fast- start funding" seen as essential for any climate deal.
"I believe the Commonwealth understands our predicament more than the others ... they have put concrete things on the table," he told Reuters.
On Friday, British Prime Minister Gordon Brown called for the creation of the $10 billion annual fund, arguing such financing should be made available as early as next year, well before any new climate deal takes effect.
The idea was backed by French President Nicolas Sarkozy, who also attended the Commonwealth summit as a guest.
Prospects for achieving a broad political framework pact in Copenhagen next month were brightened this week by public promises of greenhouse gas curbs by China and the United States, the world's biggest emitters. ((For a factbox on the Commonwealth, click on [ID:nN24312730])) ((For stories on climate change, click on [ID:nLL527527])) (Editing by Peter Cooney) ((pascal.fletcher@thomsonreuters.com; +1 305 810 2688))