Next100 - A Dialogue on the Next Century of Energy

Nov 14 2008

Climate Changes

The week brought plenty of news keeping climate change on the front burner of public discussion:

As Congress ponders what steps to take to reduce greenhouse gas emissions, two UC Berkeley experts have issued a new report reminding us of the economic stakes to California. If no action is taken, report economist David Roland-Holst and his colleague Fredrich Kahrl, the combined cost to the state's energy, tourism, recreation, real estate, agriculture, forestry, fisheries and transportation sectors and to public health could range from $7 billion to $46 billion annually. In addition, trillions of dollars of assets are in jeopardy, mainly real estate at risk from fires or flooding.
Japan, the country that hosted the Kyoto accords on greenhouse gas emissions, is at risk of missing its own emissions targets over the next four years, in part because an earthquake closed one of its biggest nuclear power plants last year. Japan must find ways of cutting CO2 emissions by 13.5 percent by 2012 to meet its target.
More than 130 global investors, which collectively hold more than $6 trillion in assets, urged policymakers worldwide to implement measures that will reduce greenhouse gas emissions 50 to 80 percent by 2050. "As institutional investors, we are concerned with the risks presented by climate change to the global economy and to our diversified portfolios," said Mike Taylor, chief executive of London Pensions Fund Authority.
10 scientists from the United States, England and France reported in a new study that the world should aim for even lower CO2 levels in order to avert climate disasters. According to lead author James Hansen of Columbia University, "Following a path that leads to a lower CO2 amount, we can alleviate a number of problems that had begun to seem inevitable, such as increased storm intensities, expanded desertification, loss of coral reefs, and loss of mountain glaciers that supply fresh water to hundreds of millions of people."
US defense and intelligence officials increasingly view climate change as a national security threat, according to the Washington Times. Among the many threats to U.S. personnel, equipment and installations is the danger of storm surges flooding 63 coastal military facilities and several nuclear reactors.