Cost of curbing GHG emissions much lower than costs of climate change - Germany Environment Agency
Sun 26 March 2006
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According to Germany's Environment Agency, total world greenhouse gas emissions could be halved by 2050 at a cost equivalent to only 1% of global GDP. Without action, the costs of climate changes could cut world GDP by 10% it says.
To achieve such a large cut in emissions would require a rapid step-change in worldwide investment in 'green' technologies, especially in the energy sector. According to the Agency (as reported by ENDS) the cost reductions resulting from technological advance have often been underestimated.
The report for the German Environment Agency was compiled by a climate change institute in Potsdam. The study is framed around the objective of restricting climate warming to two degrees Celsius.
In order to achieve a cut of this magnitude, average per capita emissions will have to be reduced to below two tonnes per year. This compares with Germany's current emissions average of 11 tonnes per head and America's 21 tonnes.
Meanwhile, Germany's research institute, DIW, recently reported that German carbon dioxide emissions fell by 2.3% in 2005 to reach 17% below their 1990 level. The German Environment Agency, which welcomed the decline, attributed it to relatively warm weather, growing renewable energy production and high energy prices. It warned that further policy measures remain absolutely essential to put Germany on a path to achieve a 40% emissions cut by 2020 compared with 1990.
By contrast, it was recently announced that total UK emissions of carbon dioxide have risen in each of the last three years, though Britain remains on target to achieve its agreed Kyoto target for reducing emissions of all greenhouse gases.
Related Links
World Business Council for Sustainble Development report
German Environment Agency link
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