Thursday, January 31, 2008

Global Warming to cost $20 trillion - 1

Global warming could cost the world up to $20 trillion (euro13.5 trillion) over two decades for cleaner energy sources and do the most harm to people who can least afford to adapt, UN Secretary-General Ban Ki-moon warns in a new report.

Ban's report obtained by the news agency provides an overview of UN climate efforts to help the 192-nation General Assembly prepare for a key two-day climate debate in mid-February. That debate is intended to shape overall UN policy on climate change, including how nations can adapt to a warmer world and ways of supporting the UN-led negotiations toward a new climate treaty by 2009.

The treaty, replacing the Kyoto Protocol when it expires in 2012, could shape the course of climate change for decades to come. The Kyoto pact requires 37 industrial nations to reduce greenhouse gases by a relatively modest 5 per cent on average.

Much of the focus has been on the United States, the only major industrial nation to reject the treaty, and on fast-developing nations such as China and India. Many are looking to next year, when a new US president takes the White House. The leading contenders in both political parties favor doing more than the voluntary approaches and call for new technologies.

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