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Copenhagen rifts widen

Passerby observes the "Cool Globes" display in Copenhagen, an exhibit on combating global warming and climate change.

TEXT OF STORY

Bill Radke: In other news, it is day 5 at the U.N. Summit in Copenhagen, where the world is grappling with the issue of climate change. Marketplace reporters Stephen Beard and Sam Eaton are there. This morning, our coverage continues with the rift between rich and poor countries continuing to widen. Today, developing nations are accusing the U.S. of endangering the world by refusing to give them more cash to fight global warming. From the summit in Copenhagen, here's Marketplace's Stephen Beard.


Stephen Beard: The numbers just keep getting bigger. Developing nations now demand $200 billion a year to help them combat the effects of climate change.

Their chief negotiater at the Copenhagen summit says the U.S. should stump up the bulk of the cash. He addressed his appeal to American politicians. He said: "You approve billions of dollars in defense budgets. Can't you approve $200 billion to save the world?"

Clement Kalonga is a delegate from the southern African state of Malawi. He also says the U.S. should pay up after ignoring the problem of climate change for so long:

Clement Kalonga: We believe it's time now that the U.S., as they come on board, they need to come with a huge contribution to make up for that, you know, lagging behind for the past years.

The Europeans are under pressure to pay up, too. And today after an all night meeting in Brussels, the E.U. came up with its initial offer of cash: $3.6 billion a year, and only up until 2012.

In Copenhagen, this is Stephen Beard for Marketplace.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.

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