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The UN’s Intergovernmental Panel on Climate Change (IPCC) warned recently that all sources of carbon emissions must become more expensive if global warming is to be successfully fought.

The IPCC will release its report at a UN meeting on climate issues in Valencia through Secretary General Ban Ki-Moon. The report suggests that charging more for emissions “could realise significant mitigation potential in all sectors”, essentially helping reduce some of the damage done by the products. They do realize, however, that it would mean a huge shift in the world economy.

The most recent IPCC report, released two weeks before the UN conference in Bali, is a synthesis of several other papers on the science of global warming, the impact of the problem, and how to fight the impact the problem would have. The Bali conference hopes to draw up a replacement for the Kyoto protocols, which expire in 2012.

The IPCC report says that it can be 90% sure global warming is caused by human emissions. It also says these emissions must be drastically reduced in the coming decades, and that the technology needed to achieve this already exists. The group argues that reductions in carbon production will have little effect on economic growth. The IPCC warns that if emissions are not capped, the consequences of a rise in global temperatures will be dire.

A draft summary of the report makes some suggestions of what might be effective. A price per ton of between $20 and $80 by 2030 was recommended as effective in reducing a global temperature rise. Ways to implement a price such as this will be discussed at the Bali talks.

Source: Guardian

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