The cost of holding rising temperatures to safe levels may reach 4 percent of economic output by 2030, according to a draft United Nations report designed to influence efforts to draft a global-warming treaty…..
….. The research is important because it’s intended to influence the direction of UN negotiations involving more than 190 countries on how to combat global warming. The discussions have been beset by wrangles between developing and industrialized nations over who should bear the cost of tackling climate change……
…….. Other findings detailed in the UN study include:
* Greenhouse gas emissions grew by an average 2.2 percent per year between 2000 and 2010. Global emissions since 1970 outstrip those for the preceding 220 years.
* Just 10 nations accounted for 70 percent of emissions in 2010.
* Industrial emissions from developing nations now exceed those from industrialized ones, though high income nations are net importers of carbon dioxide emissions embedded in goods from abroad.
* Pledges for emissions cuts by 2020 that were made by the world’s biggest emitters in 2010 don’t correspond to the ‘‘lowest cost” emissions reduction trajectory and would lead to greenhouse gas concentrations of as much as 650 ppm by 2100.
* The lowest-cost global efforts to fight climate change involve making the majority of investments in developing nations.
The UN is providing a wake-up call for policy makers as momentum to invest in clean energy is being lost. The Big 10 polluters have been reminded of their obligations; and new emphasis is being placed upon the cost effectiveness of clean energy in developing nations. It looks like a deal will be done, in which the Big 10 are given a break in return for investing in clean energy projects in the developing world.