Show Us the Money

As the last days of the Copenhagen climate change negotiations wind up (not winding down yet), we’ll be hearing a lot of chatter about protecting our own interests here in the U.S. Those bent on generating fear will try to convince Americans that the U.S. Constitution has been hijacked, we’re letting China and India off the hook, we’re willing to spend money “over there” while we continue to wreck havoc on our economy “over here" ....

Would be nice if those spewing out this rhetoric, and those listening to it, would go around their homes and offices and count the number of items that have a “Made in China” label on them – and don’t miss that third or fourth TV in the kids’ rooms, or the bathroom. Let’s face it, China’s carbon pollution is our carbon pollution.

And hey, let’s take another look at the numbers: the U.S. accounts for 5% of the world’s pollution and we’re responsible for 20% of the carbon pollution that is putting millions of people in harm’s way because of the impacts of global warming on their homelands, their food, and water supplies. Why should those least responsible for global warming be left to fend for themselves against the worst impacts of global warming?

A central issue now facing the delegates from 192 countries is “climate financing” – how much money developed countries will provide to boost development of energy efficiency and clean energy technology, reduce deforestation and provide humanitarian relief to those developing countries on the front lines. The Group of 77 (a coalition of developing nations established in 1964 and now numbering 130 countries) are standing firm that the U.S. and other industrialized countries should pony up. Today in Copenhagen, Secretary of State Hillary Clinton announced support for a $100 billion global fund.

The World Bank estimates the costs of unchecked climate change in developing countries at $75-100 billion per year.

There’s plenty of ways to generate the kind of financing needed – from public as well as private sources. Most immediately we can stop the wasteful habit of giving the fossil fuel industry government subsidies. In the U.S. we spend $ 10 billion a year on giveaways to this carbon polluting industry -- (worldwide its $300 billion.) The U.S. also spends $1 billion a day on foreign oil –$350 billion per year!

It’s time the U.S. and the world redirect this money toward a future we can all live with: a low-carbon economy future that invests in a healthier planet instead of more pollution.