what role do developed countries intend to play in reducing the green house gas emmission?
Answers
Remarks by Angel Gurría, OECD Secretary-General, at the Informal Ministerial Meeting on Climate Change
New York, Saturday 19 September 2009
Minister Hedegaard, Ministers,
It is an honour to join this distinguished gathering, at a moment when we are facing such critical challenges.
We need action to reduce greenhouse gas emissions and we need it now. For those who want to use the economic crisis to justify delaying action, our message is that it doesn't make economic sense, especially given the costs and risks of inaction. Without significant new policy action, the OECD projects that world GHG emissions would increase by about 70% by 2050 and continue to grow thereafter. This could lead to a rise in world temperatures of 4°C above preindustrial levels, and possibly 6°C, by 2100.
We can just imagine the social and human consequences. The economic cost would also be immense. And we have all seen recent reports suggesting that climate change might be occurring faster than earlier thought.
By acting now, we may have 10 to 15 years “breathing space” to build a full-fledged global carbon market. If we do that, it would cost just about one-tenth of a percentage point of world annual GDP growth between 2012 and 2050 to achieve moderately ambitious climate targets. Put differently, this would mean a 4% reduction in GDP in 2050 compared to a scenario where no policy action is taken. Bear in mind that over the same period world GDP is projected to grow by more than 250%.
If action is delayed, and GHG emissions continue to accumulate, the cost of reducing concentrations to an acceptable level later might well be much higher.
Now is crunch time. I am aware of the difficult choices that lie ahead. But I believe the elements of a deal are there. And we see our role as providing the tools to inform policy choices and to help you achieve an ambitious agreement in Copenhagen.