US Supports Poor Countries Energy Efficiency Funds
The Secretary of State, Hilary Clinton, announced on Thursday that the USA is willing to extend its contribution toward a fund worth 100 billion dollars per year by 2020, to help poor countries adapt to climate change.
The figure is similar to the long-term figures established by the European Union (EU).
Such funding is intended to allow poor countries to implement energy efficiency systems in order to reduce their carbon output and their energy costs simultaneously.
This initiative is strongly supported by the Energy Saving Association (ESA). ESA Council Member, Tim Ashmore, believes in the fundamental role that energy efficiency plays in achieving global carbon emission reductions to tackle climate change. Mr. Ashmore further thinks that energy efficient measures can help already struggling nations to save money, which can only improve their economy.
Mrs Clinton talks about the US' financial participation saying it would be "in the context of a strong accord in which all major economies stand behind meaningful [greenhouse-gas] mitigation actions and provide full transparency as to their implementation. The United States is prepared to work with other countries toward a goal of jointly mobilizing 100 billion dollars a year by 2020 to address the climate change needs".
If poor countries benefit from the help of richer nations to invest in energy saving technology, it is also for global interest - poor countries' emissions will be cut through such implementations and therefore reduce global greenhouse gas output into the atmosphere.
Several poorer countries are expected to be among the hardest hit by global warming and its direct consequences. This is why the need for financial aid is crucial in order for them to not only strengthen their protection in the face of climate change, but also actively lessen their impact on the environment by becoming more energy efficient, in turn helping to reduce the effects of climate change.
The US funding, along with the other participating countries', would therefore be used by poorer nations to become more energy efficient and switch to cleaner energy technologies, as well as enhance their defences against the threat of rising global temperatures.
Thursday 17th December 2009