L’AQUILA - Developed and developing nations have agreed that global temperatures should not rise more than two degrees Celsius above 1900 levels, a G8 summit declaration has said.
That is the level above which, the UN says, the Earth’s climate system would become dangerously unstable.
US President Barack Obama said the countries had made important strides in dealing with climate change.
But the G8 failed to persuade developing countries to accept targets of cutting emissions by 50 percent by 2050.
According to the BBC, on Wednesday, the G8 agreed its own members would work towards 80 percent cuts by the same date.
UN Secretary General Ban Ki-moon said the G8 had not done enough and should also set 2020 targets.
He said that while the G8’s Wednesday agreement was welcome, its leaders also needed to establish a strong and ambitious mid-term target for emissions cuts.
The second day of the summit, in the Italian city of L’Aquila, opened its discussions to take in the so-called G5 nations - Brazil, China, India, Mexico and South Africa. Egypt is a special invitee.
In other developments, the world’s biggest economies also agreed to work to reach a global trade deal by 2010.
Leaders of major developed and developing nations have agreed not to resort to competitive currency devaluations
In a joint statement, President Obama and UK Prime Minister Gordon Brown said the detention of British embassy staff by the Iranian authorities was unacceptable
The Major Economies Forum, of 16 developed and developing nations - the G8, G5, AUSTRALIA, South Korea and Indonesia - plus the European Union, issued the latest declaration.
The group accounts for about 80 percent of the world’s total greenhouse gas emissions.
Obama said developed nations had a “historic responsibility to take the lead”
“We recognise the scientific view that the increase in global average temperature above pre-industrial levels ought not to exceed 2C,” it said.
It added that the economies would work towards a global goal for substantially reducing emissions by 2050 between now and December, when the UN holds talks in Copenhagen on a successor to the Kyoto treaty.
Obama, who chaired the meeting, said the countries had had a candid and open discussion about the growing threat of climate change and what must be done both individually and collectively to address it.
“I believe we’ve made some important strides forward as we move towards Copenhagen,” he said.
“I don’t think I have to emphasise that climate change is one of the defining challenges of our time. The science is clear and conclusive and the impacts can no longer be ignored.”
R K Pachauri, who chairs the Inter-governmental Panel on Climate Change, praised the declaration’s mention of the 2C limit but said more details were needed.
“It certainly doesn’t give you a roadmap on how you should get there but at least they’ve defined the destination,” he told the BBC.
Obama added that the United States, as a major polluter, had not met its responsibilities in the past, but those days were over. (ANI)
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July 10th, 2009 at 5:20 pm
RE “UN Secretary General Ban Ki-moon said the G8 had not done enough and should also set 2020 targets.”
Given the unproven emission reduction effects on global temperature - and the expense of emission reduction - the key is to engage in activities valuable in themselves, which also keep on track with emission reduction targets at minimal business disruption and expense.
Emission reduction could therefore also be much simpler, and easier to agree on - without emission trading complicating international trade relations.
Sufficient first phase 2020/2030 emission reduction is achieved by acting on ELECTRICITY generation (coal, gas) and TRANSPORT (mainly automobiles) alone, since these 2 sectors typically (as in the USA) account for 80% of greenhouse gas emissions.
The focus on electricity and transport gives several advantages:
1. Local environmental benefit from less pollution of sulphur and all else that’s in the emissions, regardless of the less certain or immediate global benefit from CO2 reduction.
2. Electricity supply alternatives which together with improved grid distribution gives better competition and keeps down electricity bills for consumers.
3. Transport alternatives (using electricity, hydrogen and other energy sources), which give variety of choice and competition advantages for consumers, additionally reducing the dependency on oil imports.
4. No trade problems: Unlike Cap and Trade, which involves cement, steel and other industries having to face imports from unregulated countries, the here suggested electricity and transport changes are not just more limited, but also largely local. Since there is little competition between say utility companies internationally, “best practice” results can be compared and shared.
Funding and Impact
Equity and long term loan finance can be used: Long term industrial loans from financial institutions, particularly if federal/state guaranteed, give low yearly interest repayments and lessen the effect on electricity bills or transport cost.
Compare with
today’s all-encompassing Cap and Trade (emission trading) suggestions, with unpredictability, expense, and needless disruption from normal business practice on one hand, or unnecessary profiteering from free allowance handouts with little actual emission reduction on the other hand - together with extensive -and unnecessary- regulation on what people can or can’t buy and use.
Understanding why proposed Cap and Trade is bad, in USA and elsewhere
Basic Idea — Offsets — Tree Planting — Manufacture Shift — Fair Trade — Surreal Market — Real Market — Allowances: Auctions + Hand-Outs — Allowance Trading — Companies: Business Stability + Business Cost — In Conclusion
The Way Forward
Introduction — Funding and Impact —No Energy Efficiency Regulation — A New Electric World
Electricity Generation — Distribution
Transport Power Generation — Regulation — Taxation