Britain calls for rapid action on climate change
By Christopher Adams
Published: October 30 2006 13:32 | Last updated: October 30 2006 13:32
Britain has called for rapid action to combat global warming, with the publication on Monday of an alarming report that warns of an economic and environmental catastrophe.
The report by Sir Nicholas Stern, former World Bank chief economist and a senior UK civil servant, said establishing a carbon price, through tax, trading or regulation, was “an essential foundation” for tackling global warming.
Sir Nicholas said that achieving deep cuts in carbon dioxide emissions would cost about 1 per cent of world economic output by 2050, a level that was “significant but manageable”.
Tony Blair, UK prime minister, and Gordon Brown, chancellor, endorsed the report’s central recommendation for the development of an international market in carbon trading to slash emissions of harmful greenhouse gases. Mr Brown will throw his weight behind a massive expansion of carbon trading rather than raising billions of pounds in green taxes.
In his 700-page review, Sir Nicholas also said policies were required to support a range of low carbon and energy efficient technologies.
He suggested there could be high returns from doubling investment in these areas to $20bn a year.
“There is still time to avoid the worst impacts of climate change if strong collective action starts now,” he said. “With the right incentives, the private sector will respond and can deliver solutions.”
Efforts to move the world onto a low carbon path would need to go hand in hand with measures to adapt to the effects of climate change.
Mr Blair told reporters in London that the report was the “most important” he had received.
“If the science is right, the consequences for our planet are literally disastrous,” he said. “Unless we act now... then the consequences, disastrous as they are, will be irreversible.”
Britain, while playing its part, accounted for only two per cent of emissions. “We have to act together, this is an international challenge,” he said.
Presenting his report, Sir Nicholas said failure to act would cost between 5 and 20 per cent of consumption.
Emissions from power generation would have to be cut by at least 60 per cent and as much as 75 per cent.
He said emissions trading was “a powerful way” of establishing cross-border cooperation. Linking Europe’s trading scheme with others could increase the market in carbon fivefold.
Sir Nicholas said markets for low carbon energy projects were likely to be worth at least $500bn a year by 2050.
And he called for more investment, through the clean development mechanism set up under the Kyoto protocol, in poorer countries.
Mr Brown said the world did not need to choose between tackling climate change and promoting economic growth.
He announced that Al Gore, former US vice-president and environmental campaigner, would advise the government on green issues.
The chancellor proposed a worldwide carbon trading market.
He called for a new European wide target to reduce emissions by 60 per cent by 2050.
A new commission would be set up to examine environmental opportunities, with the aim of creating 100,000 jobs over the next decade. Businesses, he revealed, had contributed to £550m of funding.
The UK was also co-operating with Brazil and Mozambique on the development of biofuels. There would be incentives for such fuels in future Budgets, he said.
David Miliband, environment secretary, would bring forward a climate change bill that would give statutory backing to long-term targets for cutting emissions.
Jets Insider VIP JetsInsider.com Legend Charter JI Member
Post Thanks / Like
[QUOTE][B]Gore's flying visit questioned
Climate Science Coalition says Al Gore's claim in movie 'Inconvenient Truth that Pacific Islands sinking incorrect [/B]
30 October 2006
A group of scientists is questioning the worth of Al Gore's flying visit to New Zealand.
The former US vice-president will arrive for half a day next month to promote his film on global warming, An Inconvenient Truth. During the 80 minute movie, Gore argues for the need to take immediate action to combat climate change.
The New Zealand Climate Science Coalition does not accept arguments about man-made global warming. Spokesman Owen McShane claims Gore has been liberal with the truth in his film, when he says Pacific Islanders have been evacuated because their islands are drowning.
"There are no such refugees and what's more, the Pacific Islands are not sinking below the waves. It's a very active area. In some islands the sea level is falling and in others it's rising."
Mr McShane says Gore's film is simply an opening shot in a campaign to revive his presidential ambitions.
Since opening in May, An Inconvenient Truth has grossed more than $US23.7 million in America, making it the third highest grossing documentary behind Fahrenheit 9/11 and March of the Penguins. However its foreign box office takings have been considerably less, at $US4.1 million[/QUOTE]
so let's see...the number one propagndist of global warming is flying halfway round the world (most likely first class) for half-a-day to tell scientists who don't believe in him or his movie they are wrong....makes sense....
[QUOTE=bitonti]yeah that Financial Times is a real liberal rag sheet
that must be why they print it on pink paper
cause they are COMMIES that hate America
Not at all, the paper just reported what a
former World Bank (ie Robin Hoods in suits)
and a senior UK civil servant (Government Empty Suit)
wants and that his Labour
(i e SOCIALIST) govt want
another TAX and a phony excuse for one
dont mix up your America hate with other kinds of sociopathies
besides theyre not citing what real banks like RBS, Barclays, Llyods want
economics 101 might help you-try the University of Phoenix