Fast action needed to avoid climate chaos: study
Mon Jan 26, 2009 11:01am EST
BRUSSELS (Reuters) - Global temperature rises due to climate change could be
kept below the critical 2 degree mark by fast international action to cut
greenhouse gas emissions by 70 percent by 2030, a report said on Monday.
Scientists say that if temperatures increase beyond 2 degrees, humanity
faces severe environmental fallout, such as melting polar ice caps and
rising sealevels.
Increasing numbers of scientists and politicians question whether the 2
degrees goal is achievable, given the slow progress of international
negotiations so far.
But it is not too late to avert dangerous climate change, said the report by
consultancy McKinsey and backed by ten organizations including energy
companies, Enel, Vattenfall and Royal Dutch Shell.
"Achieving the deep emissions cuts required to keep global warming below the
2 degrees limit is possible but difficult," said McKinsey director Tomas
Naucler.
Global investment of 530 billion euros ($686 billion) would be needed by
2020, and 810 billion by 2030, the report added.
Countries would offset much of the cost by simultaneously cutting their
bills for oil, gas and coal, resulting in a net cost of less than 1 percent
of gross domestic product.
The report comes one month after the European Union agreed ambitious
measures to cut carbon dioxide and amid renewed optimism U.S. President
Barack Obama will lend fresh momentum to global talks after having pledged
to curb emissions at home.
Obama will start reversing former President George W. Bush's climate
policies on Monday with steps to raise fuel efficiency standards and to
grant states authority to limit emissions from cars, officials say.
Keeping climate change manageable would require fast global action, said the
report.
A 70 percent cut in emissions by 2030 would see greenhouse gas emissions
peaking at 480 parts per million (ppm), roughly the level scientists say
would cause a 2 degree rise.
But a 10-year delay would make it difficult to keep greenhouse gas emissions
below 550 parts per million (ppm).
"Every year of delay adds to the challenge, not only because emissions will
continue to grow during that year, but also because it will lock the economy
into high-carbon infrastructure," said the report.
(Reporting by Pete Harrison)
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