Copenhagen Accord: Global Emissions Cuts
Developing nations like China and India say they willcurb emissions as a share of their growing economies. Environmentministers from the BASIC countries, (Brazil, South Africa, India,China), met in New Delhi last weekend to coordinate their responses tointernational climate change negotiations.
The small islandRepublic of the Marshall Islands also signed onto the deal, pledging tocut emissions by 40 percent by 2020. As one of the nations that standto lose the most from rising sea levels due to climate change, they arecalling for the immediate adoption of a legally binding treaty. Norwayis leading the developed world by pledging reductions of 33-44 percentwhile New Zealand is pledging reductions of between 28-35 percent.
Despitepledges to reduce emissions from much of the world, some former SovietBloc Republics are planning to substantially increase their emissions.Russia is planning to increase its emissions by 18-33 percent, Belaruswill increase emissions by 50-58 percent and the Ukraine will increaseemissions by 77 percent. Click here for a chart of each country’s emissions pledge.
WithCOP 16 expected to take place in Mexico from 29 November 2010 to 10December, there is time to find solutions on outstanding disagreementsincluding a financing formula for the $10 billion fund to assistdeveloping nations with emissions reductions.
Richard Matthews is a consultant, sustainable investor, writer and owner of The Green Market Oracle, a leading sustainable business blog that covers the convergence of sustainable capitalism and the global environment.The Green Market is one of the most comprehensive resources for information and tools on sustainability. Follow The Green Market's twitter feed and see the Facebook Fan Page. Richard is a contributor to more than 50 publications. Find him on Facebook and Linkedin.
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