UN Climate Summit update

One outcome of the world leaders’ meeting at this week’s United Nations Climate Summit is a pledge of $2.3 billion for a new ‘Green Climate fund’ aimed at helping developing nations to confront the potentially devastating effects of rising temperatures – Read more.

The fund’s goal is to raise $10 billion by the end of the year and $100 billion annually by 2020. While France and Germany pledged $1 billion, UN chief Ban Ki-moon said other countries had promised to add their contributions by November. This is not just good news but also fair enough since developed nations are mostly responsible for the climate changes we are currently experiencing. For more information about other commitments  see Climate summit: Humanity has never faced a greater

obama climate summit 2014

United States President Barack Obama, speaks at the UN Climate Summit 2014. UN Photo/Cia Pak

Despite President Obama saying ‘every country would need to pull its weight’, the Australian Government says coal will serve as an affordable dependable energy source for decades to come. See Jake Sturmer’s report here: UN climate summit questions Australia’s reliance on coal .

Meanwhile, economist Ross Garnaut, in a lecture presented at the University of Melbourne, argued that China’s use of coal for electricity could peak as early as next year, then decline until 2020. He described this as a turnaround of “global importance”. The shift means the world has a much better chance of keeping global warming below 2 degrees.

Ross Garnaut concludes his lecture by stressing ‘it is crucial to the global mitigation effort that Australia and other countries respond to the developments in China with ambitious extensions of their own efforts to reduce greenhouse gas emissions’.

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