G8 Summit - climate Change Breakthrough * in Jeopardy.. of course there was a catch
June 13th 2007 00:57
As if Global learders could agree on anything straight away.. .. ..
The good news was the breakthrough - In Brief the main change was that the US AGREED to particiapte in Climate change talks and the UN was been announced as the Venue - .. this is the quote of the good news
It is well documented that in the past the US has refused to sign the Kyoto Protocol and previously had refused to discuss what will happen post 2012, the fact they will participate in discussions was huge - mind you the world managed to progress without them and they are chasing the ambulance to an extent -
The BAD NEWS the US has made its particiaption dependant on CHINA and India participating. China has been against this idea, but there is still hope they will play ball now the US has made some concessions. BUT India is making some very aggressive noises against playing nicely.
It has been reported in the Delhi Telegraph that the advisor to the Indian PM on the issue has come out saying
Some may ask why is China against such a format given they did sign the Kyoto protocol surely they will continue to play ball. Well there is one major difference. Guess what folks it comes to money - I can hear the surprise - Under the Kyoto protocol China has profited handsomely by selling Carbon credits, world banks estimes state that they received circa $3billion or 62.5% of the total carbon credit revenue earned by developing countries, it is predicted this figure could DOUBLE in 2007. It will certainly be hard for China to maintain these benefits under the new agreement, talks will begin in December. China's skyrocketing energy consumption is coming under growing scrutiny and is causing many questions to be asked about whether the original Kyoto Protocol has been successful in achieving its aims. China is concerned about two possible scenario's, a legally binding emission reduction quota and a possible carbon emission tax. Chinese experts argue that if China accepts an emission quota similar to the industrialized nations in the Kyoto Protocol, it will likely have to pay much more than it currently gains from other countries at a higher carbon price in the post-Kyoto period. The carbon tax, if adopted in the next protocol, is expected to cost the Chinese industries billions of dollars if China's economy and emissions continue to grow at current rates. They have also stated that domestic concerns will outweigh international responsibilities.
While this all seems like posturing and a way for China and India to sweeten the terms when they do particiapte, it all bodes well for a good old fashioned fight.
Watch this space, fingers crossed.
The good news was the breakthrough - In Brief the main change was that the US AGREED to particiapte in Climate change talks and the UN was been announced as the Venue - .. this is the quote of the good news
"We acknowledge that the UN climate process is the appropriate forum for negotiating future global action on climate change. We are committed to moving forward in that forum and call on all parties to actively and constructively participate in the UN Climate Change Conference in Indonesia in December 2007 with a view to achieving a comprehensive post 2012 agreement (post-Kyoto agreement) that should include all major emitters."
It is well documented that in the past the US has refused to sign the Kyoto Protocol and previously had refused to discuss what will happen post 2012, the fact they will participate in discussions was huge - mind you the world managed to progress without them and they are chasing the ambulance to an extent -
The BAD NEWS the US has made its particiaption dependant on CHINA and India participating. China has been against this idea, but there is still hope they will play ball now the US has made some concessions. BUT India is making some very aggressive noises against playing nicely.
It has been reported in the Delhi Telegraph that the advisor to the Indian PM on the issue has come out saying
Mr Ghosh reiterated India's position that it would not compromise its continued 8 per cent economic growth to arrest global warming, arguing that it was historical polluters in the industrialised West who must make the first move.
"The fact is that India has a very, very large number of poor people who are living in conditions of which people in the West can have no conception unless they have visited India's villages and urban slums.
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"The goals of addressing climate change cannot supersede our goals of maintaining our current rates of GDP growth and poverty alleviation programs, as was agreed by everyone at Kyoto," he told The Telegraph in New Delhi.
At the heart of India's position on climate change is the notion that India - whose population is predicted to reach 1.5bn by 2050 - must be allowed to pollute on a per capita basis equally with the West.
However this isn't all bad, the PM has said they won't exceed per capita emmissions. "The fact is that India has a very, very large number of poor people who are living in conditions of which people in the West can have no conception unless they have visited India's villages and urban slums.
"The goals of addressing climate change cannot supersede our goals of maintaining our current rates of GDP growth and poverty alleviation programs, as was agreed by everyone at Kyoto," he told The Telegraph in New Delhi.
At the heart of India's position on climate change is the notion that India - whose population is predicted to reach 1.5bn by 2050 - must be allowed to pollute on a per capita basis equally with the West.
Some may ask why is China against such a format given they did sign the Kyoto protocol surely they will continue to play ball. Well there is one major difference. Guess what folks it comes to money - I can hear the surprise - Under the Kyoto protocol China has profited handsomely by selling Carbon credits, world banks estimes state that they received circa $3billion or 62.5% of the total carbon credit revenue earned by developing countries, it is predicted this figure could DOUBLE in 2007. It will certainly be hard for China to maintain these benefits under the new agreement, talks will begin in December. China's skyrocketing energy consumption is coming under growing scrutiny and is causing many questions to be asked about whether the original Kyoto Protocol has been successful in achieving its aims. China is concerned about two possible scenario's, a legally binding emission reduction quota and a possible carbon emission tax. Chinese experts argue that if China accepts an emission quota similar to the industrialized nations in the Kyoto Protocol, it will likely have to pay much more than it currently gains from other countries at a higher carbon price in the post-Kyoto period. The carbon tax, if adopted in the next protocol, is expected to cost the Chinese industries billions of dollars if China's economy and emissions continue to grow at current rates. They have also stated that domestic concerns will outweigh international responsibilities.
While this all seems like posturing and a way for China and India to sweeten the terms when they do particiapte, it all bodes well for a good old fashioned fight.
Watch this space, fingers crossed.
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