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The Ministry of Public Service, Energy and Public Utilities announces the hosting of Belize’s Energy Week 2017 during the week of November 19 -25 under the observance of the Caribbean Community (CARICOM)’s Energy Month 2017. The Energy Unit within the Ministry of Public Service, Energy and Public Utilities is hosting its 2017 Energy Awareness Fair today, November 23, at the Best Western Biltmore Plaza from 8:00 am to 5:00 pm.
The Caribbean Community Climate Change Centre (CCCCC) has been invited to participate in the Energy Awareness Fair being celebrated under the theme “RE-Thinking Energy: Shaping a Resilient Community“.
Belize’s Energy Awareness Fair aims to foster stakeholder engagement and the exchange of ideas for appropriate energy related issues in Belize and sensitize the public about Renewable Energy and Energy Efficiency and access to clean and alternative modern forms of energy.
5Cs Wins Energy Globe Award for Renewable Energy and Potable Water Project in Bequia, St Vincent and the Grenadines
The Caribbean Community Climate Change Centre (CCCCC) received the 2015 Energy Globe Award for its renewable energy and potable water work in Saint Vincent and the Grenadines. Energy Globe, an internationally recognized trademark for sustainability, is one of the most important environmental prizes today with 177 participating countries. The award, which is made from a cross-section of over 1, 500 entries annually, is given in recognition of outstanding performance in terms of energy efficiency, renewable energy and resource conservation.
The CCCCC won the 2015 Energy Globe National Award for the project “Special Programme for Adaptation to Climate Change”. The project was executed on the island of Bequia in Saint Vincent and the Grenadines and focuses on the production and provision of clean drinking water for more than 1,000 people. This is being done through the acquisition and installation of a reverse osmosis desalination plant. The project is deemed highly sustainable as the water input is inexhaustible sea water and the energy used is solar, a renewable, carbon-free source.
The landmark project was also presented by Energy Globe as part of a global online campaign (www.energyglobe.info) on World Environment Day. The campaign ran under the patronage of UNESCO and in cooperation with UNEP and received significant recognition.
“To be honoured with this award is a great recognition of our work for a better environment and motivates us to continue our endeavours in the future,” – Henrik Personn, Renewable Energy Expert, CCCCC
Since completing this key project, we have applied the lessons learned in Belize and on the Grenadian islands of Petite Martinique and Carriacou. Review the poster below to learn more about the progress we are making in Grenada:
Do you have an excellent project? Submit it for the Energy Globe Award 2016. Review the details on www.energyglobe.info.
Energy Policy Consultant at the Caribbean Development Bank (CDB), Joseph Williams, believes the Caribbean must move faster towards greater renewable energy and energy efficiency projects.
Delivering the feature address at Green Energy Day at the Energy Conference in Port of Spain, Williams said Caribbean countries are not poor in regard to energy. He said in addition to making good economic sense, a green economy paradigm will provide opportunities to reduce carbon emissions.
He called on Trinidad and Tobago to lead the Caribbean into a new age of green energy, changing the way PetroCaribe currently operates. Williams stated that the CDB has opened up many areas of access to assist companies willing to go green.
He stated, “Investing in renewable energy is key. Subsidies have grown over the last few years. CDB is willing to help fund energy efficient projects through things like concessional loans.”
The Policy Consultant outlined a number of areas that still needed to be addressed including the need for policies, a raft of incentives and the lack of capacity in critical areas. He urged all nations to get involved stating, “Renewable energy is not the business of one country, it is the business of all countries.”
Meanwhile, Business Development Manager at Massy Energy, Dr. Dirk Nuber, said the Caribbean must harness more from the sun in the form of solar energy. He went on to say: “Most countries in the Caribbean still depend on fossil fuels. While many countries are good for solar, they are not using it.” He further added that there is great investment in renewable energy and the Caribbean must start adapting to it.
Saint Lucia is to join the regional movement, alongside four other Caribbean Community (CARICOM) islands, to identify ways to improve energy efficiency in buildings.
A regional training workshop on Simulation Tools for Energy Efficiency in Caribbean Buildings, commenced today at the National ICT Centre, Bourbon Street, Castries, Saint Lucia.
The workshop, held March 9th-12th 2015, is a major activity of the Global Environment Facility-United Nations Environment Programme (GEF-UNEP) Energy for Sustainable Development in Caribbean Buildings (ESD) Project.
The continued total dependence of the region on importation of petroleum products is no longer an option for our continued growth and development. To help us in this regard, the ESD project was launched in April 2013, and is piloting energy efficiency improvements in the economy of participating member states in CARICOM.
The Caribbean region imports in excess of 170 million barrels of petroleum products, annually, with 30 million barrels used in the electric sector, and since buildings are major consumers of electricity across the region, the project focuses on the buildings sector for improving the efficiency of energy use.
A recent study revealed that ninety one (91) percent of the total electricity sold in Saint Lucia is consumed in buildings and 33 percent of the total commercial energy – that is both electricity and petroleum products – is consumed in buildings.
Participation in the ESD Project is a direct indication of the Government’s commitment to addressing the consumption of energy in buildings as the government moves to make its own buildings more energy efficient and provides incentives for the implementation of energy efficiency measures in the country.
This project is being implemented by the Caribbean Community (CARICOM) Climate Change Centre (5Cs/CCCCC), and involving five pilot countries: Grenada, Antigua and Barbuda, Belize, Saint Lucia, and St. Vincent and the Grenadines.
The project’s objective is to transfer and implement sustainable energy policies, instruments and knowledge in the Caribbean countries through the promotion of energy efficiency applications and renewable energy use within the residential and public building sector. The aim is to achieve a minimum reduction of 20 percent in electricity use through the pilot activities that are to take place during 2014 – 2017.
The Simulation Tools for Energy Efficiency in Caribbean Buildings Training Workshop is an activity that represents a significant investment toward building the country’s capacity to manage the transition to a low carbon economy and to meet our National Sustainable Energy Goals and those of the Caribbean Sustainable Energy Road Map and Strategy (C-SERMS) for implementation of the renewable energy (RE) and energy efficiency (EE) dimensions of the CARICOM Energy Policy. This will also allow for successful implementation of efficient lighting retrofits both in the private and public sectors.
The Training Workshop on Simulation Tools for Energy Efficiency in Caribbean Buildings is designed to sensitize modellers and engineers on the value and opportunities of eQUEST and RETScreen in a building assessment protocol.
This workshop incorporates face-to-face and virtual interaction where participants will receive informed guidance on the use of eQUEST and RETScreen software programs.
Credit: St. Lucia News Online
Finance for Climate Action Flowing Globally stood at $650 Billion annually in 2011-2012, and possibly higher
Annual public and private flows from developed to developing countries ranged from $40 to $175 billion
Dedicated multilateral climate funds - including UNFCCC funds – represented small shares during the same period, but are set to rise with the recent pledges to the Green Climate Fund amounting to nearly $10 billion
There is relative uncertainty in the global figures in part due to data gaps and other limitations, but efforts to improve the quality of measurement and reporting of climate finance flows are under way
Hundreds of billions of dollars of climate finance may now be flowing across the globe annually according to a landmark assessment presented yesterday to governments meeting in Lima, Peru at the UN Climate Convention meeting.
The assessment – which includes a summary and recommendations by the UNFCCC Standing Committee on Finance and a technical report by experts – is the first of assessment reports that puts together information and data on financial flows supporting emission reductions and adaptation within countries and via international support.
The assessment puts the lower range of global total climate finance flows at $340 billion a year for the period 2011-2012, with the upper end at $650 billion, and possibly higher.
Support from developed countries to developing countries amounted to between $35 and $50 billion annually, with multilateral development banks (MDBs), climate-related Official development Assistance (ODA) and other official flows (OOF) representing significant shares of resources channelled through public institutions.
Funding through dedicated multilateral climate funds – including UNFCCC funds ($ 0,6 billion) – represented smaller shares during the same period, and do not include the recent pledges for the Green Climate Fund amounting to nearly $10 billion.
The assessment notes that the exact amounts of global totals could be higher due to the complexity of defining climate finance, the myriad of ways in which governments and organizations channel funding, and data gaps and limitations – particularly for adaptation and energy efficiency.
In addition, the assessment attributes different levels of confidence to different sub-flows, with data on global total climate flows being relatively uncertain, in part due to the fact that most data reflect finance commitments rather than disbursements, and the associated definitional issues.
The assessment is an important contribution of the Standing Committee on Finance that enhances transparency and clarity on climate finance flows – including information on international support to developing countries.
In addition, the assessment includes a set of recommendations by the Standing Committee on Finance to the Conference of the Parties, which, among other things, include ways to strengthen transparency and accuracy of information on climate finance flows through working towards a definition of climate finance and further efforts that would enable better measurement, reporting and verification.
The assessment also recognizes the need for understanding the impacts of climate finance associated with emissions reductions and activities to boost resilience to climate change.
The 2014 Biennial Assessment and Overview of Climate Finance Flows has been prepared by the Standing Committee on Finance following a mandate by the Conference of the Parties. The 2014 report was prepared with input from a wide range of experts and contributing organizations that collect data on climate finance flows.
Christiana Figueres, Executive Secretary of the UNFCCC, said: “Finance will be a crucial key for achieving the internationally-agreed goal of keeping a global temperature rise under 2 degrees C and sparing people and the planet from dangerous climate change”.
“Understanding how much is flowing from public and private sources, how much is leveraging further investments and how much is getting to vulnerable countries and communities including for adaptation is not easy, but vital for ensuring we are adequately financing a global transformation,” she said.
“I would like to thank the Standing Committee on Finance and the numerous experts and organizations who have contributed to this important assessment. It provides a baseline and a foundation upon which future assessments and more importantly future climate action can be refined and focused,” said Ms. Figueres.
“This first biennial assessment represents a milestone of the work of the Standing Committee on Finance. It is an important information tool for Parties to the Convention that provides a picture of climate finance flows and how they relate to climate actions, including the objectives of the Convention” said Standing Committee on Finance co-chairs Diann Black Layne and Stefan Schwager.
“Going forward, the Standing Committee on Finance will contribute further to improvements in the information on climate finance flows, including through collaborations with data collectors and aggregators,” they added.
More Facts and Figures from the 2014 Biennial Assessment and Overview of Climate Finance Flows Report:
Global total flows: Most climate finance in 2011/2012 is raised and spent at home–in developed countries 80 per cent of the funds deployed for climate action are raised domestically.
The same pattern is seen in developing countries where just over 71 per cent comes from national sources
Around 95 per cent of global total climate finance is spent on mitigation or cutting emissions with 5 per cent on adaptation.
Subsidies for oil and gas and investments in fossil fuel-fired generation are almost double the global finance for addressing climate change
Flows from developed to developing countries: Multiple sources were involved in providing funding to support climate action in developing countries ranging from Multilateral Development Banks (MDBs) and Overseas Development Assistance (ODA) to multilateral climate funds – including funds administered by the Operating Entities of the Financial Mechanism of the Convention and the Kyoto Protocol.
For example, finance from MDBs is around between $15 and $23 billion annually; multilateral climate funds including via the GEF were about $1.5 billion, including those linked to the UNFCCC at about $0.6 billion a year.
48 to 78 per cent of finance is reported as fast-start finance (2010-2012), in Biennial Reports (2011-2012), through multilateral climate funds, and through MDBs supports mitigation, or other/multiple objectives (6 to 41 per cent)
Adaptation finance in the same sources ranges from 11 per cent to 24 per cent.
Notes to Editors
The assessment has tried to identify the flows to various sectors and initiatives–real precision in this area will have to await future assessments and the numbers need to be treated with caution.
Adaptation Investments Unclear
Assessing investments in adaptation is particularly difficult often because they can form part of a larger project such as an investment in a port of water supply system.
Meanwhile, there is also no universal operational definition of what constitutes adaptation and in addition publicly funded adaptation actions within countries–both developed and developing–is rarely reported or available.
As a result, flows from developed to developing countries are not really known with precision.
The biennial assessment and overview of climate finance flows can be found on the UNFCCC website.
About the UNFCCC
With 196 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 1997 Kyoto Protocol. The Kyoto Protocol has been ratified by 192 of the UNFCCC Parties. For the first commitment period of the Kyoto Protocol, 37 States, consisting of highly industrialized countries and countries undergoing the process of transition to a market economy, have legally binding emission limitation and reduction commitments. In Doha in 2012, the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol adopted an amendment to the Kyoto Protocol, which establishes the second commitment period under the Protocol. The ultimate objective of both treaties is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system.
Credit: UNFCCC Press page
Follow UNFCCC on Twitter: @UN_ClimateTalks
UNFCCC Executive Secretary Christiana Figueres on Twitter: @CFigueres
UNFCCC on Facebook: facebook.com/UNclimatechange
Investment Planning Towards Low Carbon Climate Resilient Development
Last date to apply – November 17, 2014
Course Delivery Dates: December 1 – 12, 2014
The course compiles knowledge and lessons learned during the design phase of the Climate Investment Funds (CIF) investment plans and strategic programs.
The objective of this course is to teach policy-makers, planners and climate change practitioners how to design and finance strategic plans and programs for low carbon and climate resilient development that go beyond a project-by-project approach.
Note: Preference will be given to (in the following order):
(i) national-level government policy-makers, planners and practitioners working in the fields of clean energy, sustainable transportation, energy efficiency, and climate change from the 14 countries invited to prepare SREP investment plans (Bangladesh, Benin, Cambodia, Ghana, Haiti, Kiribati, Lesotho, Madagascar, Malawi, Nicaragua, Rwanda, Sierra Leone, Uganda, Zambia);
(ii) national-level government policy-makers, planners and practitioners working in the fields of clean energy, sustainable transportation, energy efficiency, and climate change from other developing countries; and
(iii) practitioners from development organizations or other institutions supporting countries in this work
- Preparing an overall investment strategy to meet climate change objectives
- Identifying envelopes of investments to meet those objectives, focusing on sectoral issues (energy, transport, forestry and land-use change)
- Estimating real costs of investments and identifying sources of finance
- Selecting and setting up the appropriate financial instruments
- Involving the private sector to scale-up action
- Undertaking the appropriate underlying technical, economic and financial analyses
- Launching a national dialogue to shape the plan and ensure public participation
- Addressing social issues, including gender
- Managing results, monitoring and evaluation.
For Queries Contact:
Ms. Chandni Dinakaran at email@example.com
Link to Course Website and Application:
The Caribbean Climate Innovation Center (CCIC), a project of the World Bank and its global entrepreneurship program infoDev, has announced the 11 winners of its first regional proof of concept (PoC) competition. The successful applicants will receive grants of up to US$50,000 to develop, test, and commercialize innovative, locally relevant climate technology solutions.
Officially closed on April 20, the PoC has received more than 300 applications from 14 countries, including territories within the Caribbean Community (CARICOM) and the Organization of Eastern Caribbean States (OECS). Entrepreneurs were asked to submit proposals for innovative products, services, or business models in sustainable agribusiness, water management and recycling, solar energy, energy efficiency, and resource use sectors.
“This overwhelming response is very encouraging for the future of the CCIC and its activities,” said Everton Hanson, chief executive officer of the Caribbean CIC. “The process was very competitive and even the unsuccessful applicants submitted interesting ideas that show great potential.”
The 11 winning proposals represent seven Caribbean countries: Jamaica, Trinidad and Tobago, Dominica, Antigua and Barbuda, St Kitts and Nevis, St Lucia and Belize. Particularly noteworthy is also the high engagement achieved among women, with four winning concepts submitted by female applicants.
|Antigua and Barbuda||Elliot Lincoln||Biofuels from microalgae cultivation: CO2 sequestration and wastewater treatment|
|Antigua and Barbuda||Mario Bento||Desalination Systems for Small Rural Communities; Low Cost, Solar-Powered, Brackish Water Reverse Osmosis (RO)|
|Belize||Santiago Juan||Alternative Animal Feed using vertical farming techniques|
|Dominica||Gail Defoe||Creating Home Grown Organic Bio-Fertilisers|
|Jamaica||Shirley Lindo||Organic Soil Conditioner and Fuel Briquettes from Castor Oil Waste|
|Jamaica||Brian Wright||The Pedro Banks Renewable Energy Project|
|Jamaica||Harlo Mayne||H2-Flex Hydrogen Hybrid Project|
|Jamaica||Kert Edward||Fiber-Optic Solar Indoor Lighting (FOSIL)|
|St Kitts and Nevis||Donny Bristol||Recyclables Expansion and Commercialization Project (Focal Area Resource Use Efficiency/Reuse and Recycling)|
|St Lucia||Patricia Joshua||Development of Sustainable Agri-business Paper Products|
|Trinidad and Tobago||Suzanne Thomas||Mobile modularized PF bio-digester|
The PoC grants are designed to help entrepreneurs prove the value of their business concept by providing the resources and the skills necessary to prototype, test, develop, and commercialize services and products. In addition to funding, the PoC winners will also get access to the suite of advisory services offered by the CCIC, as well as considerable exposure and networking opportunities through the center’s media events.
The CCIC will work with Caribbean countries to develop innovative solutions to local climate challenges. By supporting Caribbean entrepreneurs with a suite of services to commercialize new climate-friendly products, the CCIC will spur economic development, decrease reliance on imported fossil fuels and increase resilience to climate change.
The CCIC is part of infoDev’s Climate Technology Program (CTP), which is currently implementing a global network of innovation centers across seven other countries, including Kenya, Ghana, Vietnam and Ethiopia. The center is also part of the broader Entrepreneurship Program for Innovation in the Caribbean (EPIC) funded by the government of Canada.
Credit: Caribbean News Now!
When Mark Twain wrote, “Never let the facts stand in the way of a good story,” he could have been describing Canada’s current climate policy debate. Prime Minister Stephen Harper repeatedly claims that a carbon tax would “destroy jobs and growth.” Yet the evidence from the province that actually passed such a tax – British Columbia – tells a different story.
The latest numbers from Statistics Canada show that B.C.’s policy has been a real environmental and economic success after six years. Far from a being a “job killer,” it is a world-leading example of how to tackle one of the greatest global challenges of our time: building an economy that will prosper in a carbon-constrained world.
B.C.’s tax, implemented in 2008, covers most types of fuel use and carbon emissions. It started out low ($10 per tonne of carbon dioxide), then rose gradually to the current $30 per tonne, which works out to about 7 cents per litre of gas. “Revenue-neutral” by law, the policy requires equivalent cuts to other taxes. In practice, the province has cut $760-million more in income and other taxes than needed to offset carbon tax revenue.
The result is that taxpayers are coming out ahead. B.C. now has the lowest personal income tax rate in Canada (with additional cuts benefiting low-income and rural residents) and one of the lowest corporate rates in North America. You shouldn’t need an economist and a mining entrepreneur to tell you that’s good for business and jobs.
At the same time, it’s been extraordinarily effective in tackling the root cause of carbon pollution: the burning of fossil fuels. Since the tax came in, fuel use in B.C. has dropped by 16 per cent; in the rest of Canada, it’s risen by 3 per cent (counting all fuels covered by the tax). To put that accomplishment in perspective, Canada’s Kyoto target was a 6-per-cent reduction in 20 years. And the evidence points to the carbon tax as the major driver of these B.C. gains.
Further, while some had predicted that the tax shift would hurt the province’s economy, in fact, B.C.’s GDP has slightly outperformed the rest of Canada’s since 2008.
With these impressive results, B.C.’s carbon tax has gained widespread global praise as a model for the world – from organizations such as the OECD, the World Bank and The Economist. But in the rest of Canada, it is less heralded, which is a shame. Because when you look beyond the political rhetoric and examine the facts, B.C.’s experience offers powerful, positive lessons for Canada.
In particular, it shows that Canada can be competitively ambitious in shaping a 21st century economy that internalizes the real costs of pollution. And that is important, because carbon and other emissions from burning fossil fuels impose heavy costs on us all – as B.C. knows well. The mountain pine beetle infestation, resulting from warming winters, has devastated the province’s interior forest industry, closing mills and costing thousands of jobs. Similarly, air pollution, caused mainly by burning fossil fuels, costs thousands of lives and more than $8-billion a year to Canada’s economy. These problems will only get worse if we don’t get serious about tackling the causes of carbon emissions.
B.C.’s example shows that we can do that, while also building a prosperous economy, if we use smart policies. And it’s not alone in doing so. Both Alberta and Quebec, for example, have also put a price on carbon emissions, using different policy approaches. All three provinces offer instructive, made-in-Canada lessons for spurring clean innovation, advancing energy efficiency, and preparing Canada’s economy to compete with other nations that are already making this shift.
Canada has a history of taking pragmatic, far-sighted policy action to meet global economic challenges, like free trade, deficit fighting or the financial crisis. The shift to a low-carbon economic future poses a similar challenge. With such strong evidence of how to meet it from within our own borders, it’s time to set aside the stories and act.
Ross Beaty is chairman of Pan American Silver Corp. and Alterra Power; Richard Lipsey is professor emeritus of economics at Simon Fraser University; Stewart Elgie is professor of law and economics at the University of Ottawa, and chair of Sustainable Prosperity.
Credit: The Globe and Mail
The Fifth IPCC Assessment Report has at last been completed and made public. Since April 15th the (third) volume Mitigation of Climate Change has been made available, concluding the triad of the most awaited publication from the world of climate change science and policy at the international level. The only piece missing to complete the work of the Fifth IPCC Assessment Report on Climate Change is the Synthesis Report, the document summarizing the three volumes published in recent months, which will be approved and published in late October 2014 in Copenhagen.
The first volume confirmed human responsibility for climate change, the second outlined the impacts and risks that have and will come of it. IPCC’s third working group, of which I am one of the Vice Presidents, is trying to find solutions to the problem of future climate change through appropriate mitigation policies, namely the reduction of greenhouse gases.
Prepared by 235 authors from 57 countries, the third volume of the report integrates more than 38,000 comments received by more than 800 expert reviewers in the various stages of writing and revision, to answer this question: what can and should we do to limit climate change as much as possible in the coming decades?
The Point We Are At
One of the main messages emerging from the work is that, despite the new awareness and mitigation efforts put in place over the past decades, the emissions of greenhouse gases have increased more rapidly between 2000 and 2010 than in any other decade: the rate of emission growth of the past decade has been 2.2% per year, while in the period between 1970 and 2000 it averaged 1.3% per year. 78% of emissions derive from the use of fossil fuels and industrial processes. The forestry sector is the only one experiencing a decline in emissions, due to the reduction of deforestation and hence an increased capacity by forests to absorb carbon dioxide.
What We Can Expect
In the absence of more mitigation efforts than at present, the emissions increase (driven by population and economic growth in developing countries and insufficiently offset by significant improvements in energy efficiency in developed countries) will lead to an increase in average global temperature in 2100 of between 3.7 and 4.8 degrees centigrade in comparison with pre-industrial levels.
It is clear that if we continue on this path we will get adrift inexorably from the so-called “2-degree” target formalized in the COP 16 negotiations in Cancun (2010): the two-degree rise in temperature over preindustrial levels is recognized internationally as the threshold not to be exceeded if we are to comply with Article 2 of the UN Framework Convention on Climate Change (UNFCCC), which stabilizes global emissions to “prevent dangerous anthropogenic interference with the climate system.” But the Fifth IPCC Report also points out that this objective has become very difficult if not almost impossible to achieve by now, in the light of the levels of concentration of greenhouse gases already present in the atmosphere and expected in the coming years.
What Must Be Done And When
To close the 2-degree target gap, emissions must peak off as soon as possible and then decline by 40-70% within mid-century, reaching a total of zero in 2100. We need to act now, because any delay takes us adrift of any chance of a green transition that allows the decoupling of economic growth from the growth of greenhouse gas emissions, and significantly increases the mitigation costs. Mitigation options include actions for energy efficiency and decarbonization (renewable energy sources, nuclear power, carbon capture and storage of CO2 (CCS), bio-energy, reduction of deforestation and forest management, reduction and management of waste, carbon market, carbon taxation, reduction or removal of subsidies for fossil fuels, and overall changes in lifestyle). The IPCC report gives no recommendation for the most appropriate measures to be taken but limits itself to analyzing them all accurately, in order to provide policymakers with the tools to make informed, effective decisions.
The Ideal World
The optimal situation for dealing successfully and efficiently with the climate challenge is one in which all the countries of the world implement immediate mitigation actions, in which there is a single carbon price in a worldwide emissions market, and in which a combination of all the technological solutions and policies listed above is available and usable in all sectors (production and use of energy, industry, transport, agriculture, forestry, urban development). In this ideal world the costs of mitigation might be limited. But unfortunately this ideal world doesn’t exist….
Costs, Benefits And Investments
In an ideal world scenario of mitigation as described above, one that meets the two-degree target, the costs are estimated at between 1 and 4% of worldwide GDP in 2030 and between 2 and 6% in 2050. These are only the direct costs, which do not take into account the benefits that would result from maintaining a climate more similar to today’s, from having reduced air pollution, lower impacts on ecosystems, water and land use, as well as greater energy security. But the costs will increase rapidly if the mitigation measures are applied late, or if some of the currently available technologies (nuclear or CCS for example) were not fully applicable, or if the resources for necessary investments were not forthcoming….
For the first time, the IPCC Report also assesses the investments needed to achieve the two-degree target: in the next two decades (2010-2029) investments in clean energy production technologies will have to increase by 100%, that is redouble, while investments in fossil fuels decrease by 20%.
Also An Ethical Question
From the data presented in the report, which will be used as a scientific basis in international negotiations under the UNFCCC in the coming years, there are striking inequalities in per capita emissions of greenhouse gases: high-income countries have per capita emissions even nine times higher than those of the poorer countries. The issue of climate change is not, therefore, just an environmental issue but also a matter of economic and social equity that forces us to face the impacts that the climate challenge poses, which are more severe in the developing (and hence more vulnerable) countries. Most of the growth in emissions that has taken place since 1970 is the responsibility of the industrialized countries, associated with their economic development. The recent rise in emissions, and that foreseen for the future, is instead linked largely to the regions in the developing world, which are growing at a very rapid pace. Hence it is necessary to establish a cooperation between countries that implies an ethical, responsible commitment on the part of those that have so far contributed most to the problem, i.e. the developed countries, and a likewise ethical, responsible commitment on the part of those that in the future are destined to exceed the tolerable limit of human interference with the climate system.