LONDON - The world must reach a new consensus on tackling environmental issues, British finance minister Gordon Brown will argue this week, as he calls on the Group of Seven rich nations to promote energy efficiency.
In a speech to the United Nations on Thursday, Brown will set out measures to tackle climate change, boosting speculation that he is straying further from his Treasury remit in the hope of taking over from Prime Minister Tony Blair, who has said he will not fight another election. Brown's proposals may also help his ruling Labour party wrestle the advantage on environmental issues from the opposition Conservative Party ahead of local elections on May 4.
"Environmental sustainability is not an option, it is a necessity," Brown will say in a speech on Thursday, according to extracts seen by Reuters. "Failure to act on the environment will put at risk future economic activity and growth."
Brown will argue that climate change is partly to blame for some of the humanitarian crises suffered by the developing world and that rich countries must work together to tackle the underlying cause as financial aid is just a short-term solution.
In his speech, Brown will suggest boosting existing measures to cut carbon emissions, for example, extending the European Emissions Trading scheme, with the ultimate goal of setting up a global carbon trading system.
"We will need the cooperation of all countries with significant energy needs and emission levels if we are going to tackle the global challenge of climate change comprehensively and cost effectively," Brown will say.
He will also urge electrical goods manufacturers to make their products more energy efficient and point out that around 10 percent of electricity supply is wasted by items such as televisions, DVD and CD players being left on "standby" mode.
Brown will travel to Washington on Friday, where G7 finance ministers will meet ahead of the semi-annual meetings of the International Monetary Fund and World Bank.
There, he will try to win support for the World Bank to set up a US$20 billion fund to help developing countries invest in alternative energy sources.
He will also use Friday's G7 meeting to call for greater dialogue between oil producers and consumers and enhance transparency on the functioning of the energy market.
Story by Fiona Shaikh
REUTERS NEWS SERVICE
