Climate change

Costing the earth

Dec 7th 2009
From Economist.com

Who would pay more to tackle climate change?

AROUND 100 world leaders are set to attend the UN climate-change summit in Copenhagen to discuss a global deal to replace the Kyoto protocol. This will be tough. Scientists estimate that greenhouse-gas emissions from rich countries need to be cut by 25%-40% to keep global warming to a 2ºC rise above pre-industrial levels. The offers at Copenhagen add up to around 15%, with America offering only around 4%. The cost of averting an even bigger rise in temperature is put at a relatively small 1% of global output—a price, it seems, that many people are happy to pay. In a poll for the World Bank, over 40% of people in 13 countries said they would be willing to pay this extra amount for energy and other goods to help tackle climate change. China is the keenest on spending more while Russians were most unwilling to fork out any extra.

Précis

About a hundred world leaders are gathering in Copenhagen for a UN climate-change summit. An agreement will be reached which will replace the expiring Kyoto Protocol. Climate scientists say that greenhouse-gas emissions from developed countries need to be cut by 25%-40%. This would keep global warming to a 2 degree Celsius rise. Countries at the Copenhagen summit are offering different percentages than they are willing to cut emissions by. The offerings at the summit add up to 15% for rich countries. America is willing to contribute to only 4% of the global decrease in green-house gas emissions. China is the most keenest to reduce emissions, while Russia is the most un-willing.