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October 31, 2006
Britain to push for global climate deal by 2008
The UK is to use the warnings of irreversible climate change and the biggest economic slump since the 1930s, outlined in yesterday's Stern review, to press for a new global deal to curb carbon emissions.
The government is urgently pushing ahead on the issue because the existing Kyoto protocol runs out in 2012, and there is no binding agreement to extend it. The UK government is seeking the outline of a package with the G8 industrial nations and five leading developing countries by next year, or 2008 at the latest.
UK Government sources said the prime minister wanted a framework that included a target for stabilizing CO2 emissions, a global scheme to cap and trade carbon emissions, a global investment fund for new green technologies and action to stop deforestation. The agreement would include three countries that were not part of Kyoto - the United States, China and India.
Launching the review into the economics of climate change by the Treasury economist Sir Nicholas Stern, the prime minister said: "Without radical measures to reduce carbon emissions within the next 10-15 years, there is compelling evidence to suggest we might lose the chance to control temperature rises."
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