How are we solving the climate change problem?
The Pledges
Managing climate change requires urgent major cuts in greenhouse emissions. In 1997 the Kyoto Protocol was a step towards this goal where 37 of the developed nations committed to targets to reduce their emissions. A flexible solution to meet these targets was found by introducing carbon offsetting.
The Reality
The situation is now “desperately urgent”. Global carbon emissions reached a record level last year according to the IEA (International Energy Agency): Data shows that global CO2 emissions in 2012 hit 35.6bn tonnes, a 2.6% increase from 2011 and 58% above 1990 levels.
The world has edged incredibly close to the level of emission that should not be reached until 2020 if the 2°c target is to be attained
Faith Birol (IEA)
What Does This Mean?
Governments agree the situation is “desperately urgent”:
Climate change is potentially the greatest challenge to global stability and therefore to national security
The UK national security strategy - Cabinet Office
To achieve the necessary reductions there is a consensus that private sector capital is vital for the transformation to a low carbon society.
How does this help Us to Pre-empt the Trend?
The global carbon market is projected to ride a half decade long wave of monolithic growth. The global carbon market value is forecast to grow by 68% per year
Carbon Emissions Trading Markets Worldwide Report by SBI
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