Canada could be hurt by Kyoto retreat, says head of UN Environment Program
He predicted Canadian investors will press for greater certainty about the government's intentions. "I think the best answers will come from the corporations."
Steiner added in an interview that there's nothing wrong with making profits if the result is lower emissions; that is precisely to purpose of the Kyoto Clean Development Mechanism, which allows companies to generate and trade carbon-emissions credits. "Frankly, some people will make money."
For example, a Canadian company could design and build a solar power project in Africa, creating credits which then could be sold on the international market. In this way, emissions cuts would be obtained wherever they can be done at lowest cost.
According to the Stern Review, recently published by the UK government, markets for low-carbon energy products will likely be worth at least $500 billion per year by 2050.
RAND Corp. says big gains can be achieved at little cost
Renewable sources of energy could meet 25% of U.S. demand for electricity and motor fuels by 2025 with little additional costs, says a study by RAND Corp. released last week. Currently, renewable energy sources provide about 6% of U.S. energy.To generate renewable energy without new costs, however, fossil fuels must remain relatively expensive—at least $54 per barrel—and renewable energy production costs must fall about 20% between now and 2025, the report determined. Both assumptions match government predictions and historical trends, the report says.
As I have said Kyoto is about creating a green capitalism. It is based on carbon sinks and carbon emissions trading. A new market approach to the environment.
But the Conservatives ideologically oppose this market approach, for which they can give no good reason.That is because the believe the handful of Fox newsbroadcasters who claim that global warming is a myth.
But here is a business opportunity they are denying themselves, and Canadian corporations and NGO's.
In reality carbon trading was embraced by the Liberals because they saw they could tie it into CIDA development projects killing two birds with one stone. They didn't have to increase government expenditures on Kyoto committments they just had to earmark existing CIDA development funding as part of their Kyoto comittment.
It is this CIDA funding with its Kyoto monicker that Rona Ambrose claims is the billions spent on carbon trading outside of Canada, as if all we were doing was buying someone elses carbon credits. It was a convient lie for the moment. But now the inconvient truth is going to come back and bite the Conservatives on the ass.
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