“This is not charity”: U.S. Special Climate Envoy Defends Key Financing Measures
Posted on 17. Sep, 2009 by Ben Jervey in U.S.A.
Before I get started–this is my first post in these parts, and I’m equal bits honored, humbled and thrilled to have been asked to join this important effort. As a rookie in this space, I encourage–beg for, actually–feedback from followers or this project. Let me know what you all would like to read about, and I’ll do my best to deliver.
Now, down to business.
Secretary Clinton with Special Envoy for Climate Change Todd Stern in the Ben Franklin Room of the State Department.
Last Thursday, Todd Stern, the U.S.’s Special Envoy for Climate Change, testified before the the House Select Committee on Energy Independence and Global Warming on The Road to Copenhagen and International Climate Agreement. The big news is that he spoke officially for the first time of key financing aspects of a potential international agreement. In particular, he emphasized the importance of international financing measures in the ACES act that passed through the House this summer. NRDC’s Jake Schmidt, who was at the proceedings, explained how Stern hit upon three of these investment provisions in particular when responding to questions from representatives:
- Deforestation reduction program—sets aside 5 percent of the allowance value to supporting reductions in deforestation emissions;
- International adaptation assistance—sets aside 1 percent of allowance value (increasing over time) to support the most vulnerable developing countries in adapting to the impacts of global warming and helping to minimize future national security threats.
- Clean energy export provision—sets aside 1 percent of allowance value (increasing over time) to support clean energy investments in developing countries that commit to reduce emissions on their own; and
These percentages are far from finalized, and certainly plenty of folks would like to see them be higher (or, at very least, see some guarantees that they do increase substantially over time, and that those increases are mandated). But Stern’s message was clear, and his testimony as written (pdf) urges American leaders to protect these financing commitments not only for the sake of the greater good, but also for America’s own national interest:
…the adoption of appropriate financing provisions is pivotal to getting a deal, and I hope that the Senate takes this into account as it develops its own version of a bill. This is not charity. It is squarely in our national interest to help ensure that all countries — not simply the ones that already have the necessary infrastructure and resources at their disposal –pursue a clean development pathway. As has been often said, this is not at all like local environmental problems. The CO2 emitted in the Middle East hurts us as much as the CO2
emitted in the Mid-West.…pursue a clean development pathway.
Of course Stern also spent plenty of time urging Congress to lead domestically–to help propel and energize the international discussions.
