The Cost of Avoiding Catastrophe
“The cost to the global economy in 2030 – 21 years from now – will be no more than 3% of the global GDP,” Rajendra Pachauri, the chairman of the Intergovernmental Panel on Climate Change told the Carbon Market Expo via video link. Sustainable Jamboree’s Ngaire McGaw reports on what she discovered at the important carbon market and climate change events this past week.
By Ben Sharples for Bloomberg (27 October 2009):
The cost of cutting greenhouse gas emissions to avoid the impact of climate change may amount to 3 percent of the world’s economic output, said Rajendra Pachauri, the chairman of the Intergovernmental Panel on Climate Change.
“The cost to the global economy in 2030, so that’s 21 years from now, will be no more than 3 percent of the global GDP,” he told the CarbonExpo Australasia conference on the Gold Coast, Australia today via video link.
Governments from around the world will meet in Copenhagen starting Dec. 7 for the final round of talks on a climate accord to replace the 1997 Kyoto Protocol, which expires in 2012. The negotiations are being run by the UN Framework Convention on Climate Change.
The world can only afford to have carbon emissions rise for another six years to avoid “catastrophes” from global warming, said Pachauri, chairman of the panel that shared the Nobel Peace Prize with former U.S. Vice President Al Gore in 2007.
“We have no choice but to see that collectively global emissions of greenhouse gases are brought down as rapidly as possible,” he said. “By 2015, we have to ensure that we reach a peak and beyond that year, we should bring about the reduction.”
Source: www.bloomberg.com
Convenor of Sustainable Jamboree, Ngaire McGaw, who attended both the three day Carbon Market Expo and the Climate Change at Work Conference last week, gave this exclusive report on what she discovered:
Both events were well attended and gave me a personal positivity boost – it was encouraging to see so many organisations actively engaged in climate change abatement and adaption.”
In particular, big business is looking to invest in the new opportunities, manage their risks or even just find ways to be good corporate citizens… although not always in their own backyard.
I was startled at some presentations which showed a large proportion of businesses have little awareness that they will be impacted by flow on effects throughout the economy relating to the inevitable emissions trading environment and the National Greenhouse and Energy Reporting System.
However, some businesses are on the front foot including Price Waterhouse Coopers, Fuji Xerox and Fosters.”
I was particularly encouraged by the Environment Business Australia’s Fiona Wain who reminded those present about the urgency of addressing climate change and advocating strongly for a range of specific swift policy options to attack the problem.

http://www.environmentbusiness.com.au/

I was also encouraged by the government and industry work being done to take advantage of biosequestration, particularly in the area of soil carbon.
“The CSIRO is putting a lot of work into ways to measure and verify the level of carbon in soils which can be increased over time through good farming practices.”

http://www.csiro.au/people/Brian.Keating.html

It sounds like if we get the market structures right, this could make farmers some money one day.
One of topics which inspired me was the idea of green jobs.
This was discussed at both events, with many agreeing that potentially all jobs could be greened.
For those who missed the presentations, it’s not too late to access presenters or information.
A key speaker at the Carbon Market, Martijin Wilder from Baker & McKenzie law firm will discuss the proposed Australian Emissions Trading Scheme: Context and Critique at Southbank’s Ship Inn on 11 November http://www.griffith.edu.au/law/socio-legal-research-centre/news-events
Also keep your eye out for the release of a report on the readiness of small to medium enterprises which will come from the Premier, Anna Bligh in early November. www.industry.qld.gov.au
Another source of information which business should monitor closely, is the Australian Industry Group AIG) which had a presence at both events. http://www.aigroup.com.au/policy/reports
At the Climate Change at Work Conference in Brisbane, the AIG noted that the way we are communicating climate change messages needs to be urgently modified as many male dominated industries will continue to be left behind in terms of preparing their businesses
The Climate Change at Work Conference was organised by the University of Sydney’s Workplace Research Group: http://www.wrc.org.au/
Copies of presentations are available from Workplace Research Centre.
For more information and access to presentations a the Carbon Market Expo, go to: http://www.carbonexpo.com.au/
Ngaire McGaw is organiser of the community group in brisbane called Sustainable Jamboree and has organised workshops on the Low Carbon Diet, solar for home and a 350 event. More information from http://sustainablejamboree.org