Fixing climate carries big costs

Global warming’s demands on human ingenuity, and pocketbooks, will take center stage Friday in the latest international report on climate change.

Whether humans bury greenhouse gases, blunt them with new technology or buy them off with tax incentives, banishing the emissions responsible for global warming will take quick action, experts conclude in advance of the report.

The latest International Panel on Climate Change report, “Mitigation of Climate Change,” examines fixes — or “mitigation” in climate lingo — to global warming, both technological and economic. The report will underline the environmental and financial benefits of quick action to cut emissions, says report co-author John Drexhage of Canada’s International Institute for Sustainable Development.

But fixes also come with costs explored in the report. If governments, for example, impose fees on carbon dioxide emissions, it would raise the price of electricity for businesses and homeowners alike. For that reason, the USA and China, major users of coal, have objected to calls in the panel’s draft report for quick action on just such a move, says Tony Kreindler of Environmental Defense, an environmental research and advocacy organization.

Source:  USA Today

 

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