minimum co2 price of 32 needed to curb warming
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

Minimum CO2 price of $32 needed to curb warming

Arab Today, arab today

Arab Today, arab today Minimum CO2 price of $32 needed to curb warming

Coal fired Morgantown Generating Station
Paris - AFP

A global carbon price of at least $32 (24 euros) per tonne is needed by 2015 to apply an effective brake on global warming -- almost five times today's European market rate, a study said Monday.
Co-authored by British economist Nicholas Stern, an authority on the costs of climate change, the report reviewed a widely-used model for assessing risk and found it led to a "gross underassessment" of danger.
This beefs up the case for strong cuts in greenhouse gas emissions, helped by a carbon price "in the range of $32-103 per tonne of CO2 (tCO2) in 2015", said the study carried by The Economic Journal.
"Within two decades, the carbon price should rise in real terms to $82-260/tCO2," it added.
Such a price should limit the concentration of greenhouse gases in the atmosphere to 425-500 particles per million, the level required to contain global warming to 1.5-2.0 degrees Celsius (2.7 degrees Fahrenheit), said the report.
The study was co-authored by Stern's colleague, Simon Dietz, at the Grantham Research Institute on Climate Change and the Environment.
It was released a day after the close of UN talks in Bonn on concluding a deal to curb greenhouse gas emissions. The pact is expected to be signed in Paris in December 2015.
In April, the UN's expert Intergovernmental Panel on Climate Change (IPCC) said the world can still limit global warming to relatively safe levels, provided annual emissions are cut by 40-70 percent by 2050.
The panel listed a global carbon price as one option for tackling the challenge. It warned temperatures could rise by up to 4.8 Celsius this century and sea levels by 26-82 centimetres (10-32 inches) on present emissions trends.
The International Monetary Fund and World Bank have also this year called for the introduction of a universal price on carbon -- the most common greenhouse gas blamed for climate change.
For the moment, carbon prices are determined by national or regional systems -- either as a tax on emissions or as a cap-and-trade scheme that allows companies to sell unused allotments.
The European Union Emissions Trading Scheme (ETS), the most ambitious cap-and-trade system in the world, has seen prices drop drastically from a peak of about 30 euros per tonne eight years ago to $7.7 (5.7 euros) today -- partly due to countries issuing too many allowances.
The Stern-Dietz report said the standard DICE model used to calculate economic risks from climate change, also by studies included in the IPCC's latest report, used unrealistic values and underestimated the potential damage.
The updated model, "strengthens the case for strong cuts in emissions of greenhouse gases," Dietz said in a statement.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

minimum co2 price of 32 needed to curb warming minimum co2 price of 32 needed to curb warming

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

minimum co2 price of 32 needed to curb warming minimum co2 price of 32 needed to curb warming

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday