The Hindu Business Line : `Delay in tackling emission can lead to greater risks, higher costs'

Stern review
Pointing out that the Stern Review was a critical piece of work, Mr John Mundy, Energy and Environment Adviser with the UK Foreign and Commonwealth Office, said time was running out and that the emissions issues need to be addressed directly.

Kolkata March 22 Experts from the UK, outlining the salient features of the Stern Review on Economics of Climate Change, have said that as per the report, "unless emissions are curbed, climate change will bring high costs for human development, economies and the environment".

Calling for urgent, decisive and strong international action, the experts cautioned that "delay means greater risks and higher costs".

Making a key observation, they felt that technology needed more than a carbon price.

Seeking global public funding for technologies, it is suggested that globally R&D funding should double to around $20 billion, and development incentives should increase 2-5 times from the current level of $34 billion.

Speaking at an interactive session on Sir Nicholas Stern's review on the Economics of Climate Change, organised jointly by the Indian Chamber of Commerce and the British Deputy High Commission, Kolkata, Mr Dimitri Zenghelis, Senior UK Government Economic Adviser, said quoting the review "Adaptation is inevitable as climate change is with us and more is on the way".

Strategies

The strategies generally revolve around lower carbon technologies, non-energy emissions, improving efficiency and reduction of demand. On the energy emissions front, while power accounts for 24 per cent, industry, transport and agriculture account for 14 per cent each.

Pointing out that adaptation cannot be a substitute for mitigation of the climate change risk, he said it can at best reduce the costs, though even these are now rising rapidly.

It does not attract risks and the uncertainty.

Pointing out that the Stern Review was a critical piece of work, Mr John Mundy, Energy and Environment Adviser with the UK Foreign and Commonwealth Office, said time was running out and that the emissions issues need to be addressed directly.

He called for an integrated approach so that both public sector and the private sector can work together.

Highlighting the key principles of international action, as stated in the Review, Mr Zenghelis said effective action would require long-term quality goals to limit costs, a broadly comparable global price for carbon, equitable distribution of effort and transparency and mutual understanding of actions and policies.

The possible aggregated impacts (of climate change and global warming) on vulnerable developing countries are said to be "rising water stress, falling agricultural yields/incomes, malnutrition & disease and migration & conflict".

Pointing out that even the developed countries were not immune, he said this could be borne out by the costs of extreme weather events, rise in sea level and higher insurance costs.

More Stories on : Pollution | Economy | West Bengal

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page