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Merkel calls for global carbon market
German Chancellor Angela Merkel on Monday called for a global carbon-trading system to tackle the growing costs of global warming and prevent "dramatic damage" in the future. Speaking at a major UN climate conference in New York, Merkel said it was up to industrial nations to give developing countries, which have only recently begun to impact global carbon levels, a reason to act. "The United States Industrialized countries must play a pioneering role here," she said. "The United States They have to set themselves ambitious reduction targets. The United States They have to demonstrate how they intend to achieve these targets."

The European Union has already resolved to reduce carbon emissions by 20 per cent from 1990 levels by 2020, but Merkel said that figure could be raised to 30 per cent if there was an international agreement that bound other regions as well.
Hell, make it 75%. It's For The Children.
A carbon trading system, which puts a quota on the amount of greenhouse gases industries can emit, must have a "central role" in any future attempts to reduce emissions, Merkel said. "Only when greenhouse gases have a price will climate friendly technologies really become economically attractive," she said.

The European Union in 2005 introduced the world's largest carbon trading scheme for factories and power plants. But the system has been hampered by countries cheating issuing too many permits, reducing the scheme's effectiveness. Merkel said the world must succeed in cutting carbon emissions in half by the end of the century - the "only way we can avert the worst consequences of climate change."
Posted by: Seafarious 2007-09-26
http://www.rantburg.com/poparticle.php?ID=200252