Obama pushes for global climate deal; wants transparency

Maintaining that world leaders should accept a global climate change deal, even if it is "imperfect", US president Barack Obama today strongly pitched for "transparency" and sharing of information on national actions taken by countries.

Addressing the high-level segment of the Copenhagen climate conference, Obama, however, did not offer any new commitments to cut greenhouse gas emissions by the world's largest economy and second largest carbon emitter.

Amid diminishing hopes of a breakthrough in talks, he said, "I think our ability to take collective action is in doubt right now, and it hangs in the balance."

Harping on the need to act and "not to talk", the 48-year old American leader said, "It is in our mutual interest to achieve a global accord in which we agree to certain steps, and to hold each other accountable to certain commitments."     

Touching upon a key point of differences between developed nations and developing countries like China and India, he maintained that all major economies should allow non-intrusive outside scrutiny of climate action, and warned that there will be no aid that "had no strings" attached.

"I am sure that many consider this an imperfect framework... no country will get everything that it wants."

On monitoring of national actions of climate change, he said, "Without such accountability, any agreement would be empty words on a page."

"We must have a mechanism to review whether we are keeping our commitments, and exchange this information in a transparent manner. These measures need not be intrusive, or infringe upon sovereignty. They must, however, ensure that an accord is credible, and that we are living up to our mutual obligations," Obama said.

"I don't know how you have an international agreement, where we all are not sharing information and ensuring we are meeting our commitments. That doesn't make sense. It would be a hollow victory," the US president said.

He, however, maintained these measures need not be intrusive, or infringe upon sovereignty of any country.

On financing to help developing countries, particularly the least-developed and most vulnerable countries, adapt to climate change, he said America will be a part of fast-start funding that will ramp up to USD10 billion in 2012.

"And, yesterday, secretary of State Hillary Rodham Clinton made it clear that we will engage in a global effort to mobilise USD100 billion in financing by 2020, if and only if it is part of a broader accord that I've just described.

"Mitigation, transparency, financing. It's a clear formula, one that embraces the principle of common but differentiated responses and respective capabilities."

Warning that time is "running short", he said, "At this point, the question is whether we will move forward together, or split apart. Whether we prefer posturing to action."

"There are those developing countries that want aid with no strings attached, and no obligations with respect to transparency. They think that the most advanced nations should pay a higher price. I understand that," Obama said.

"There are those advanced nations who think that developing countries either cannot absorb this assistance, or that will not be held accountable effectively; and that the world's fastest-growing emitters should bear a greater share of the burden.

"We know the fault lines because we've been imprisoned by them for years....We can embrace this accord, take a substantial step forward...Or we can choose delay, falling back into the same divisions," he said.

Addressing the session earlier, Chinese premier Wen Jiabao told delegates that whatever the outcome of the meet is, China will be fully committed to "achieving and even exceeding" its target of reducing its carbon intensity by 40 to 45% by 2020 from 2005 levels.

He also asked the developed countries to shoulder more responsibility.

"Developing countries only started industrialisation a few decades ago, and many of their people still live in poverty today. It is totally unjustified to ask them to undertake emission reduction targets beyond their obligations and capabilities in disregard of historical responsibilities."

Obama and Wen also met for 55 minutes on the sidelines of the final day of the conference and discussed the contentious issues blocking a deal. An official told reporters that the session was "constructive" and "made progress."