with respect to the strong concern we have for the preservation of the global environment and for the creation of domestic jobs in environmental technologies; theirs, both for their own environmental concerns, and for the concomitant requirement to continue along the path of environmentally sustainable economic growth. To begin resolving this issue, industrialized countries will have to take the lead in implementing the Convention's commitments (as agreed in the Convention language itself) and encourage developing countries to follow. In my view, such leadership will be linked to the quality of our national responses, as well as to the extent of the financial and technical assistance we and other industrialized nations can provide to developing countries. Country Studies The United States has already begun to demonstrate our concern for addressing the longer term global effort. We are providing $25 million to a U.S. country studies initiative which will provide an 'analytical and institutional foundation from which countries may develop appropriate measures and actions to address climate change. Studies enable countries to address vulnerabilities to climate change, measures to limit net greenhouse gas emissions, or both. Country studies could also be used to assess the measures necessary to meet the obligations of the Convention, including by developing national inventories of greenhouse gases and by identifying actions and measures to mitigate greenhouse gases or to adapt to climate change. Participants in the Country Study Program will generally receive funds and associated technical assistance both during the organization of the work and as it progresses. Assistance would cover specific, high-cost activities, including data development, institutional or infrastructural development, model-building, or procurement of special equipment, as well as lower cost technical assistance and project monitoring. The Country Studies Initiative, which is coordinated through a State department committee, is operated by DOE, EPA and AID. Modifying the Convention Under the provisions of the Climate Convention, all parties are called upon to formulate and implement programs to reduce greenhouse gas emissions, with developed countries taking the lead. There is broad agreement about the first step in this effort: countries are aiming to return their emissions to 1990 levels by the year 2000. - To move forward, I believe that our work under the Convention must focus on the longer term. Once all countries have ratified the Convention -- and the State Department will be beginning a campaign to encourage this we must evaluate the obstacles to its implementation, and work to overcome them. As I noted earlier, the proponderance of future emissions are most likely to come from the developing countries. We must therefore begin now to develop appropriate responses to help these countries reduce their emissions while continuing in the path toward economic prosperity, a response that is sure to involve the development, and commercial exchange of new environmentally sound technologies. One of the charges that has in the past been leveled against those who have advocated a strong environmental policy -- such as the one required to address global warming is that environmentalism and economic growth cannot coexist. I do not agree. I strongly believe that a sustainable environmental future is economically imperative. We must think about the long-term nature of the environment we pass down to our children. And, simultaneously, we must also concern ourselves with the present welfare of our country. Investment in environmental technology is one way to reach this goal. As President Clinton noted in his Earth Day speech, there will be, by the end of this decade, a $300 billion market for environmental technologies, and the United States must capture as much of that market, and the tens of thousands of jobs it will create, as possible. This in an area in which the United States can and must continue to be a leader. We must continue to build our technological markets, both at home and abroad. - These are the kinds of programs that this Administration will support in our efforts to address climate change. As adopted, the Climate Convention is but one piece of the international policy framework that can help us redirect cur thinking. The task before us is to take the next steps. I look forward to working with you all as we move ahead. Thank you. I would be happy now to respond to any questions you may have. |