At the Copenhagen climate summit, the world’s top environment watchdog welcomed the fact President Obama will now be attending the talks but said the US target of cutting carbon emissions by 17 per cent by 2020 on 2005 levels was not high enough.
"To make up for this, he said the Americans must invest in a global fund to help developing countries cut their emissions.
Related Articles
The issues: population growth
The issues: money
UN optimistic about climate change deal
“The litmus test is show me the money,” he said. “If you are going to come to Copenhagen and you are not able to deliver emissions targets at the moment along the lines the other industrialised countries have done then possibly one way you could convince the rest of the world you are serious about engaging is to finance - with a significant and credible contribution - the start up of the quick-start funding and become part of a an international financial ambition that will convince developing countries that they actually have an interest in signing a deal, rather than being taken to the cleaners as many of them have decided.”
The global fund is likely to be around $10 billion from next year, rising to $100 billion per annum by 2020.
With America being the biggest economy in the world, he said it would “not be an insignificant amount” but the US already spends billions abroad in order to secure national security and trade.
“Americans are afraid of throwing good money after bad government but that in my mind is a complete misreading of the opportunities, not least for the American economy,” he said.
Mr Steiner also said the UK has to invest cash and make sure it meets its targets of cutting emissions by a third on 1990 levels by 2020.
“The UK has been sometimes slow in following through in terms of early implementation,” he said. “If Copenhagen comes out with an ambitious target – then you have to move forward. Because the EU will have to meet its 20-30 per cent target and the big emitters have no time to waste.”
But Mr Steiner said it was only fair that the developed world cut their emissions as well as helping the poor countries to grow in a more sustainable way.
“Anybody who argues we cannot do Copenhagen is wrong. We can do it. The question is whether we want to do it, whether we have the commitment to do it and that has to do with willingness to pay the difference the developing countries will incur as they become part of carbon cuts much earlier than they are obliged to from their historical emissions. It is very complicated but also very simple.”
