China’s rising carbon dioxide emissions must return to today’s level by 2030 if warming since pre-industrial times is to be kept to 2 degrees Celsius (3.6 degrees Fahrenheit), London School of Economics professor Nicholas Stern said.
Countries that fail to adapt their economies to “cleaner” technologies are likely to lose export markets to those that do, said Nicholas Stern , former chief adviser on climate change to the U.K. government.
An icy rain is pelting about 30 protesters who’ve converged at the gate of a natural gas drilling site near Manchester, England. On the other side of a fence topped with razor wire, a 10-story-high rig is boring into shale to determine if it’s suitable for hydraulic fracturing, or fracking. The demonstrators unfurl a banner: “Fracking will poison our children.”
IDEAglobal, a research company advised by economist Nicholas Stern, has started selling software that predicts prices of United Nations carbon credits and may spur trading and investment in emissions reduction.
U.S. Treasury Secretary Timothy F. Geithner said China needs to continue to allow its currency to gain, adding that the world’s second-largest economy is “very supportive” of the Group of 20 nations’ framework on reducing global imbalances.
The cost of holding rising temperatures to safe levels may reach 4 percent of economic output by 2030, according to a draft United Nations report designed to influence efforts to draft a global-warming treaty.