A Dark Cloud’s Silver Lining: The Recession’s Impact on CO2 Emissions
Used under license from Shutterstock.com
The recession may be a blight on many job seekers and businesses, but it seems to be doing wonders for CO2 emissions.
According to a study conducted by the International Energy Agency (IEA), greenhouse gas emissions have fallen drastically as a result of the world’s economic troubles. Not to give all the credit to financial troubles, governmental policies also contributed to 25% of the decline; a first time accomplishment for them. The decline in CO2 emissions was so significant, that it tops any others that have happened in the past 40 years, and is expected to fall at least 2.6% this year.
“This fall in emissions and in investment in fossil fuels will only have meaning with agreement in Copenhagen, which provides a low-carbon signal to investors,” said IEA chief economist, Fatih Birol.
A one-day climate summit meeting will be taking place at the U.N. Headquarters in New York as an attempt to unlock 190-nation negotiations on a new plan to combat global warming. These negotiations are currently stalled over how to share out curbs to 2020 between the rich and poor, and also how to raise $100 billion per year in order to help the poor combat global warming and adapt to rising sea or desertification changes.
Used under license from Shutterstock.com
China and the United States are the top 2 targets for the emissions issue, being responsible for over 40% of the world’s total. President Barack Obama is going to have to convince the world that Washington is serious about their efforts on cutting emissions, while Chinese President Hu Jintao will be unveiling plans to tackle global warming. Other world leaders, such as British Prime Minister Gordon Brown, are open to the possibility of turning the Copenhagen meeting into a summit of world leaders. In an article posted to Newsweek magazine, Brown wrote “if it is necessary to clinch the deal, I will personally go to Copenhagen to achieve it—and I will be urging my fellow leaders to do so, too”.
It is uncertain how long the CO2 emissions will stay on the decline; industrial output is on the rise in developing countries and it’s rather difficult to convince the world to agree on anything; but it is hoped that this notable change will finally push people, businesses and governments in the right direction.
By Heidi Marshall
Popularity: -0% [?]
Tags: carbon emissions, climate change, co2, recession
Leave a Reply