TAILIEUCHUNG - Cutting the Cost

The scientific evidence is clear: before 2020 global greenhouse gas emissions (GHG) must peak and by 2050 they must be reduced by 50-85% below 2000 levels, in order to avoid a rise in global temperature of 2°C or more above the preindustrial Without ambitious international action, new scientific research3 predicts close to, or even more than, a metre of sea level rise by the end of this century, due to melting glaciers and expansion of the oceans. Tthese and other changes will have serious economic and human consequences | THE CLIMATE GROUP The Office of Tony Blair BREAKING THE CLIMATE DEADLOCK CUTTING THE COST THE ECONOMIC BENEFITS OF COLLABORATIVE CLIMATE ACTION SEPTEMBER 2009 HxH UNIVERSITY OF W CAMBRIDGE 7 J Cambridge i 111 econometrics Foreseeing Mitigation connecting you to the future CONTENTS 01 FOREWORD 02-04 EXECUTIVE SUMMARY 05-06 CHAPTER 1 REFRAMING THE CLIMATE COST DEBATE 07-09 CHAPTER 2 MODELLING COLLABORATIVE ACTION 10-15 CHAPTER 3 KEY FINDINGS 16 CHAPTER 4 CONCLUSIONS AND RECOMMENDATIONS 17 ANNEX A THE E3MG MODELLING APPROACH 18-21 ANNEX B COUNTRY GDP AND EMPLOYMENT FIGURES 22 REFERENCES 23 CREDITS BREAKING THE CLIMATE DEADLOCK CUTTING THE COST THE ECONOMIC BENEFITS OF COLLABORATIVE CLIMATE ACTION FOREWORD It has not taken long for people to understand that climate change is more than just an environmental issue. The impacts of global warming threaten people s homes their livelihoods their food supply and their health. Businesses transport systems and infrastructure are at risk. The economic consequences of unchecked climate change are likely to be huge. Dealing with climate change is also primarily an economic issue affecting investment in the development and deployment of technology international trade competitiveness jobs equity and growth itself. It is this economic characteristic - coupled with the fact that climate change can only be successfully addressed at a global level - that has made reaching an ambitious international agreement so difficult particularly in times of economic crisis. And despite the fact that it is widely recognised that the cost of cutting emissions is far outweighed by the cost of doing nothing concerns over our ability to deploy the technologies we need and the distribution of the costs has led to further delays. Since I launched the Breaking the Climate Deadlock Initiative with The Climate Group eighteen months ago we have addressed these issues head on. In our first report A Global Deal for our Low Carbon Future we identified ten key .

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