Carbon Markets

The New Global Climate Deal- how does it look like?

It is January 2010, after years of negotiation and attrition, we now have a new Global Climate Deal.  The deal will come into effect on expiry of the Kyoto protocol in 2012. Everyone is optimistic but the world is in a panic. The global temperatures have not changed much over the last 12 years, but the sun has been exhibiting some very odd behaviour. There is new emerging evidence that, besides carbon dioxide, there is another factor that is leading to the dramatic change in the climate.

It is supposed to be summer, it is cold and strangely the ice in the poles is all but gone.  Places where the sun is shining, it is not producing enough heat to promote the fast growth of plants. The sea level has risen by 7 meters.  The small island states have been deleted from the global map, parts of the US coast are under the sea.  Mozambique, Cape Town, Mombasa, Malindi, Abidjan are no longer in the global map.   Somewhere in the Kalahari, the wet conditions have given rise to an ecological boom closely mimicking the biblical garden of Aden.  A natural new world order has emerged.

During the years of negotiation, politics dominated the discussions, now the word is faced with new challenges.  The focus is on how to deal with; the global climate catastrophe.

Carbon dioxide levels  in the atmosphere are the same levels are higher than those recorded in the 1990. However, the temperatures have plunged to an all time low.   It is no longer clear why the world has moved from the balanced and predictable, the global warming carbon dealers have all gone into hiding from angry street crowds baying for their under-performing carbon credits stocks.

The  New Deal, New Kyoto or …the Copenhagen something had promised to deliver the world from the global crisis by dealing in Carbon, but now, the mechanisms have all but collapsed and the cause of the global change  seems no longer to point at only Carbon dioxide as the only culprit, there are many other factors.

The  New Copenhagen Climate Deal had delivered a deal where the rich nations had accepted to make deep, mandatory carbon cuts  and pay tens of billions of dollars in aid to help developing countries combat global warming.

China, India, Brazil and Russia had committed to taking extreme measures to help mitigate future new carbon emissions in the decade ahead.

New investments had been committed to support renewable energy technologies both in Developed and Developing nations etc…  but now…

To be continued

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By AfricaClimateEditor on April 10, 2009 | Climate | 1 comment
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