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IT may already be too late to cut global greenhouse emissions to safe levels, with the latest report from the world's leading climate change policy-makers flagging the need for massive and sustained reductions for the rest of the century.
The third report from the UN's Intergovernmental Panel on Climate Change says emissions should have peaked by now if the world stood any chance of containing global temperatures within 2C of pre-industrial levels. Instead, emissions are rising, driven by rapid growth in developing economies, and global cuts of 50-85 per cent are now needed by mid-century to approach the 2C target.
The federal Government has not set any target for cutting greenhouse emissions but Kevin Rudd wants emissions cut by 60per cent by 2050. This suggests technologies are needed to start removing greenhouse gases from the atmosphere, rather than simply cutting emissions. The IPCC report estimates the cost of such deep cuts at up to 5.5per cent of global GDP by 2050, which translates to a cut of about 0.12 per cent each year, although these figures could vary considerably for different countries and sectors.
Week-long negotiations by the working group finalising the report in Bangkok managed to avert contentious references to the role of fast-growing economies such as China and India in the climate change debate and the discussion of nuclear power as a solution.
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http://www.theaustralian.news.com.au/story/0,20867,21675078-601,00.html