A STEP IN RIGHT DIRECTION

EU leaders on Friday agreed that developing nations will need 100 billion euros per year by 2020 to tackle climate change, but failed to put a figure to Europe’s own contribution amid sharp east-west differences.

“We have an agreement,” said Swedish Prime Minister Fredrik Reinfeldt, at the end of a two-day European summit in Brussels. “The EU now has a strong negotiating position and the countdown to Copenhagen now has started,” he added, referring to international climate talks in Denmark in December.

France, Germany and Italy had been keen not to show Europe’s hand ahead of the Copenhagen talks. “We are going to link our promises to what other countries offer and similarly our financial engagements,” German Chancellor Angela Merkel said.

British Prime Minister Gordon Brown, whose country had hoped for more flesh on the bones of the agreement, agreed the deal shows that “the European Union and its member states are ready to contribute their fair share of the cost. “Of course it is conditional on other countries playing a part too,” he added.

Even the 100 billion euro (150 billion dollar) per year figure which developing nations will need by 2020 will be found through an unspecified combination of developing countries’ “own efforts, the international carbon market and international public finance”.

The 27-nation bloc prides itself on leading the fight against climate change, and has already agreed to cut greenhouse gas emissions by 20 percent by 2020.

It needs a strong, unified line to take to Copenhagen if it is to persuade the likes of China, the United States and India to make swingeing cuts themselves.

The EU also said it is willing to increase its own promised emissions cuts to 30 percent if the rest of the developed world does likewise at Copenhagen.

Join the Green Movement at www.theglobalenergy.com

ALTERNATE ENERGY IS ANSWER

Top Democrats put the issue of climate change back in the spotlight Tuesday, debating legislation to cut greenhouse gas emissions while announcing $3.4 billion in new clean energy funds.

A key congressional committee began hearings on a “cap-and-trade” bill requiring emissions to be cut by more than 80 percent over the next four decades.

Questions related to global warming have been among the most politically contentious in recent years. Democrats are generally more receptive to proposals designed to curb energy consumption in order to slow climate change; leading Republicans continue to express concern about the necessity and economic impact of such measures.

President Obama has made the push for greater investment in a clean energy agenda one of his top domestic priorities. Attempting to move that agenda forward, the Senate Environment and Public Works Committee kicked off hearings on the Clean Energy Jobs and American Power Act. Supporters say the bill would reduce nationwide greenhouse gas emissions 20 percent by 2020 and 83 percent by 2050 through a cap-and-trade program under which companies would buy and sell emissions credits.

Almost one-third of the credits would be given away to the electric power sector through 2026 in an effort to diminish negative economic effects. Leading Democrats have expressed optimism that the bill would help stimulate the creation of new “green energy” jobs.

The measure is similar to a climate change bill narrowly passed by the House of Representatives in June.
Join the Green Movement at www.theglobalenergy.com

President Obama joined other world leaders Tuesday in calling for immediate and substantive steps to combat climate change, saying failure to act now would bring “irreversible catastrophe.”

Speaking to a special summit on climate change at the United Nations, Obama pledged the full commitment of the United States to a global response after what he called years of responding too slowly to the magnitude of the challenge.

However, Obama’s speech lacked specific details on cutting greenhouse gas emissions that cause climate change. He also warned that the global economic recession could hinder the ability of countries to take necessary steps to combat climate change.

“We seek sweeping but necessary change in the midst of a global recession, where every nation’s most immediate priority is reviving their economy and putting their people back to work,” Obama said. “And so all of us will face doubts and difficulties in our own capitals as we try to reach a lasting solution to the climate challenge.”

Progress in the negotiations involving almost 200 countries has been slowed by disputes over the roles of industrialized powers and major greenhouse gas emitters such as the United States and emerging nations such as China that have become major emitters in their rush to economic development.

China will increase efforts to improve energy efficiency and curb the rise in CO2 emissions, President Hu Jintao has told a UN climate summit in New York. Mr Hu gave no details about the measures, which should mean emissions grow less quickly than the economy. The US, the world’s other major emitter, said China’s proposals were helpful but figures were needed.

About 100 leaders are attending the talks, ahead of the Copenhagen summit which is due to approve a new treaty. UN Secretary General Ban Ki-moon said failure to agree a treaty in December would be “morally inexcusable”.

Negotiators for the Copenhagen summit are trying to agree on a replacement for the Kyoto Protocol to limit carbon emissions.