Monday, January 11, 2010

Brilliant concept of global warming meets!

EU did take the lead and declare to cut its carbon emissions by 20% from 1990 levels by 2020 and is the only region on the planet running a comprehensive Emissions Trading Scheme (ETS). However, it refused to commit to any further cuts unless other rich nations reciprocate its earlier gestures. But, in the midst of this heat that has suddenly raised COP 15 temperature by many degrees, Dr. R.K. Pachauri, Chairman of the Nobel Prize winning IPCC, said at the inaugural speech of the summit that “To limit average temperature increase at 2.0 and 2.4° C, the cost of mitigation by 2030 would not exceed 3% of the global GDP. In other words, the so-called prosperity expected in 2030 would be postponed by just a few months. But, we have clearly specified in the AR4 that if temperature increase is to be limited to between 2.0 and 2.4°C, global emissions must peak no later than 2015.”

The Copenhagen Summit started recently with the greatest fanfare in recent times for any international event – rivalled only by the 2008 Beijing Olympics. However, the thriller, even before its screening, has already had its share of controversies with the stealing of certain emails of scientists at the University of East Anglia in UK, the contents of which showed that certain studies cast doubt over the fact that human induced activities cause climate change. This proved to be a panacea to climate change naysayers and a sudden surge of criticisms were hurled at the so called propagandists of ‘left’ leaning legions of policy-makers and governments across the globe trying to take over the capitalist world. However, the jigsaw consists of many more hidden pieces. There are other issues intertwined with carbon and equivalent emission reductions that are on the COP15 agenda but have largely been remained footnotes in the emissions tale.

Firstly, as Prime Minister Dr. Manmohan Singh has reiterated on many platforms, funding and technology transfer from developed countries to developing nations to curb, mitigate and adapt to damaging effects of climate change must be made a certainty within the confines of any international treaty. However, the rhetoric by the world’s largest oil and gas companies, coal power plant owners and timber companies largely sidelined India’s stance when the clause about peak oil was introduced some time back by some EU representatives. It was followed by the Chinese per capita reduction commitment and suddenly, India seeing itself as the isolated warrior capitulated immediately. Under the giant garb of standing its ground, it slowly slithered out and positioned itself behind China in curbing its per capita emissions at 2005 levels by 20-25% by the year 2020. Dr. Manmohan Singh has declared that he is going to Copenhagen; and as expected, the developed world is waiting with open arms.

The Danish Government, the hosts to COP 15, sent a statement of Danish Prime Minister Lars Løkke Rasmussen to B&E, “I welcome Prime Minister Singh’s announcement of his participation in the climate conference in Copenhagen on 18 December. With the Indian announcement, at present 105 leaders from all over the world will participate. Together, these 105 leaders represent 82 percent of globe’s population, 89 percent of the world GDP and 80 percent of the world’s current emissions. If an agreement can be reached within this group, it could change the future of the globe, thus making Copenhagen the global warming turnaround, we all wish for.” But such sweeping statements about universal wishes from the West almost never mention anything about technology transfer and a funding mechanism to aid developing nations.

Secondly, the soot from the carbon jargon has been so thick that the greatest sink for carbon dioxide, the largest GHG, the global forest cover, has been but forgotten. Brazil, the largest Latin American economy recently declared post negotiations with other Amazon economies that it would only accept and support a climate agreement if it made mandatory for developed nations to use only 10% of their emission reduction targets to invest in afforestion projects. However, Brazil might have just forgotten that China single-handedly emits nearly 50% of the carbon emissions combined by EU and US and it is still a developing economy.

Connie Hedegaard, Danish Minister for Climate and Energy, also the President for COP 15, tells B&E (as she keeps insisting on all forums she goes to), “Failure in Copenhagen is no option.” If her definition of failure is the deal not being signed, it is surprising that nobody’s cared to email her the latest details. For UN Conference Summits are now no more than glorious forums for the global environment ministers to meet each other, have great photo opportunities, discuss and debate to keep up the skills required back home in their senates, tour a little more, and finally pack for the next conference. COP 15 is named COP 15 as it’s the 15th conference since 1995 (each in a different place; next one in Mexico). Apart from these main summits, there’re pre-summit meetings (for example, 183 delegates met in Bonn this year, then in Bangkok, then in Barcelona and so on so forth). So what can one actually look forward to in COP 15? The Obamas, and the Salahis, but of course!

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative