Thursday, October 05, 2006

Ministers set to address climate change summit

Representatives of the 20 biggest energy-using countries are meeting today in Mexico to discuss the threat of climate change.
The UK's foreign secretary, Margaret Beckett, and environment secretary, David Miliband, join representatives of the other G8 industrialised nations and the emerging economies of China, India, Brazil, South Africa and Mexico.
These countries already have the greatest energy needs and many of the emerging nations are expected to have substantial rises in their emissions as their economies grow.

The two-day meeting - which includes environment and energy ministers - is intended to build on last year's G8 summit at Gleneagles in Scotland.
At Gleneagles, the G8 members set up a new dialogue on climate change, clean energy and sustainable development and agreed a package of measures to reduce greenhouse gas emissions. During the event in Monterrey delegates will hear from the former chief economist of the World Bank, Sir Nick Stern, who is leading a review on the economics of climate change for the Treasury, and from the president of the World Bank, Paul Wolfowitz.
The organisers are hoping the 20 countries attending the event will agree that action to stop climate change is economically viable, that technologies already exist to limit carbon dioxide emissions and that there is investment available for countries to pay for this technology.
Writing on his blog ahead of the conference, Mr Miliband said the key issue was to win the argument in the developed and developing world "that green growth is not only necessary, it is possible".
"In fact climate change imposes such costs that there is an umbilical link between the environment and the economy," he added.
He said over 200,000 jobs had been created in the UK in the environmental industries since 2001.
"But the link also arises from the fact that the costs of adaptation to climate change dwarf those of preventing it; that will be at the centre of the Mexico talks," he added.
The World Bank is currently looking into the development of an Energy Investment Framework to encourage large-scale investment in projects to encourage energy efficiency.
It will report on its progress during the conference.

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