14 October 2008
FINANCIAL CRISIS IS MIXED NEWS FOR CLIMATE
A declining global economy may reduce the growth in greenhouse gas emissions as consumption of goods and energy usage drops – thus providing a short term amelioration of one of the drivers of climate change
On the other hand there are increasing concerns that the current financial crisis will undermine efforts to find long-term solutions.
Hopes for some action on climate change in the US had risen given both presidential candidates had pledged to make cutting U.S. greenhouse gas emissions a top priority. Environmentalists now fear that the next president may be more focused on reviving the economy, and Congress could be wary of supporting any measures that might slow growth or raise energy prices for consumers.
In Europe, the "Guardian" reported on concerns that Leaders of EU countries plan to use the global financial crisis as an excuse to renege on climate change commitments.
Meanwhile in Australia some business leaders joined the Leader of the Opposition in a call for a delay in the introduction of the proposed carbon trading scheme, but the Australian Broadcasting Corporation reported the Climate Change Minister as rejecting that call.
That world leaders were able to come together to plan a unified response to the global financial crisis gives hope that it may be possible for a similar response to avert the arguably a greater catastrophe face by the planet as a result of climate change.
On the other hand there are increasing concerns that the current financial crisis will undermine efforts to find long-term solutions.
Hopes for some action on climate change in the US had risen given both presidential candidates had pledged to make cutting U.S. greenhouse gas emissions a top priority. Environmentalists now fear that the next president may be more focused on reviving the economy, and Congress could be wary of supporting any measures that might slow growth or raise energy prices for consumers.
In Europe, the "Guardian" reported on concerns that Leaders of EU countries plan to use the global financial crisis as an excuse to renege on climate change commitments.
Meanwhile in Australia some business leaders joined the Leader of the Opposition in a call for a delay in the introduction of the proposed carbon trading scheme, but the Australian Broadcasting Corporation reported the Climate Change Minister as rejecting that call.
That world leaders were able to come together to plan a unified response to the global financial crisis gives hope that it may be possible for a similar response to avert the arguably a greater catastrophe face by the planet as a result of climate change.
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