If you hear a lot of noise about climate policies and climate action over the next few months in the lead up to the Paris climate conference, it is because there is a lot at stake. According to Citigroup analysts: $US100 trillion of potential stranded assets in the fossil fuel industry.
Tag: "carbon budget"
While the Coalition maintains that ambitious targets for renewables and emissions reduction would be economically catastrophic for Australia, a new report from Citigroup has come to exactly the opposite conclusion: strong climate action could save governments around $1.8 trillion by 2040, while inaction could cost as much as $44 trillion by 2060.
If you look at the carbon tax as an experiment, there are four main conclusions you can draw from its results, 12 months after the price was removed.
Denial, anger, bargaining, depression, and acceptance. The 5 stages of grief for coal.
The CCA’s budget approach to emissions reduction makes it crystal clear that whatever we do now cannot be divorced from what must be done later.
A new study by an interdisciplinary group of scientists and economists has led to calls for more severe emissions cuts, and a tighter carbon budget.
IPCC report suggests we may have used two thirds of our carbon budget already. That would mean less than 10 per cent of world’s fossil fuel reserves could be exploited if the world is to have a better than even chance of avoiding runaway global warming.
Climate Commission adds voice for tight carbon budget, calls for major changes to energy production, says most fossil fuel reserves must stay in the ground.