Sarkozy Calls For More Private Funding for Green Initiatives

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French President Nicholas Sarkozy called for a significant increase in green investment at an international conference on global warming last week in Paris. As much as 90% of the financing that will be necessary to help mitigate climate change must come from the private sector, France’s leader told reporters.

His comments were intended to address the creation of a long-term strategy to replace the Kyoto Protocol, which expires in 2012. Sarkozy also called for the establishment of a globally regulated carbon credit market and cited America’s policy of stimulating environmental change through private financing, though he is critical of the American administration’s insistence on voluntary emissions cuts. In the past Sarkozy has openly advocated stricter tariffs and trade penalties on nations that do not actively attempt to reduce their greenhouse gas emissions, even going so far as to threaten American imports with stiffer taxation if the U.S. continues to vacillate on the establishment of a mandatory emissions cap.

Ever the diplomat, Sarkozy made no mention of President Bush’s apparently straight-faced attempt at credible environmental policy. Bush’s announcement earlier in the week that the U.S. would reduce its emissions by 2025 was met with harsh criticism at the conference by Germany and other nations; the EU released a subtler but no less emphatic statement that Bush’s plan did “not match the level of ambition needed on the part of developed countries, considering their responsibilities in the challenge we face”.

Despite his seemingly contradictory about-face on climate change, Bush offered no specific suggestions as to how this emissions reduction would be achieved. Skeptical environmentalists claim that the announcement is merely an attempt to establish a less rigorous policy before his successor has a chance to tackle the issue. With the American president’s likely motives revealed, the rest of us can stop looking for further signs of the apocalypse. The world just isn’t ready for a green George W…


Posted on Monday, April 21st, 2008 at 9:15 pm | Tagged in Global Warming, Politics | posted by Bill

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