Bluegrass Consulting: Blueblog

Posts Tagged ‘Carbon credits’

Monday: 01 February

The ETS… to be, or not to be?

The opposition has made it clear - “NO ETS”.

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So, in another classic example of political acrobatics, it would appear that Penny Wong has done a 180 on her choice of negotiating partners.

On the 22nd of December last year… some 40 days ago, the Climate Change Minister ruled out negotiating with the Greens to get the ETS through.

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And now it would appear those comments aren’t so fixed in stone after all…

Today, Penny Wong will meet with the Greens Deputy Leader to try and nut out a solution for the ETS.

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I wonder what will come of it… - Will we see the Government committing to a 40% reduction by 2020 that the greens were touting last year?

Unlikely… but surely there will have to be a compromise… the question however is… What will it be….??

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Friday: 08 January

What did come of COP 15??

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In the words of Ban Ki-Moon - the summit just “could not end in failure”. Why? Well the concerns for most surrounding the success of the summit lay directly at the heart of international law and international negotiation… the basis and structure for the United Nations.

With the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol and the Bali Action Plan all still treaties and all still in effect, the “Copenhagen Accord” is merely a piece of paper that tells the world… “We haven’t wasted your tax-payer dollars… no, really… we promise!”

Political will, national promises, economic direction and public pressure just wasn’t enough to overcome the key issue that many nations had moving into Copenhagen… National Sovereignty.

And the final outcome of the summit seems to reflect that very point.  Despite many nations coming together forging a sense of cooperation and collaboration, national sovereignty remains supreme. All nations coming together in unity is one thing… and despite everyone’s best intentions, I really cant see how binding agreements with threat of financial penalty and legal action can be made collectively with all the world cheering along, especially on such a diverse and complex issue such as Climate Change!

There have been no quantified targets for emission reduction. Even the 50% by 2050 that was in early drafts couldn’t make it through the grueling negotiations. The action plan as it currently stands is that industrialised countries will inform the UNFCCC secretariat by 31 January, the extent to which they will cut their emissions after 2012 (when the current phase of Kyoto runs out). The emerging economies or developing nations will tell the UNFCCC what they plan to do to control their emissions. However… no one will be legally bound to any commitment.

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The reference to transparency in the text I guess is something significant, because what it means is that for the first time ever, actions by countries can be globally assessed for all to see. However, there is no verification anywhere of the actions undertaken in the smaller nations of the developing world… not unless they are paid for by the developed world.

And finally… there is no detail at all on any of the elements within the accord. There is a reference to the target of limiting global warming to 2C above pre-industrial temperatures, as well as the need for quantified action by both developed and developing countries. Great… BUT how will this target be achieved… your guess is as good as mine.

I guess really we will have to wait for the review of progress… in 2015.

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What WAS actually achieved…? Well… see below -” The Carbon Cost of Copenhagen