Friday, September 05, 2008

Garnaut: Lets want 400, argue for 450, go for 550, and if we don't get it, charge for carbon emissions anyway

The table in today's just-released Garnaut Report update sums it up:

"Australia should put its strongest possible efforts into securing a global agreement to limit emissions to no more than 550 parts per million CO2-e and encourage the world onto a lower emissions path as soon as feasible.

450ppm or lower would suit Australian interests better than a 550ppm goal.

However, the Review has reluctantly concluded that international agreement on a global goal of 450ppm is not immediately feasible, given that emissions are currently around 455 ppm CO2-e and rising rapidly due to fast global economic growth.

The path to an ambitious objective of 450ppm, or lower, is through early progress on 550ppm.

Based on a 550ppm outcome, Australia’s share of the burden would be a 10 per cent reduction (or 30 per cent in per capita terms) by 2020 and an 80 per cent reduction (90 per cent per capita) by 2050 over 2000 levels.

If a 450ppm scenario were adopted, emissions would need to be reduced by 25 per cent by 2020 (40 per cent per capita), falling to 90 per cent by 2050 (95 per cent per capita).

During the period from 2010 – 2012, in which Australia would continue to work within its Kyoto commitment, permits would be sold starting at $20 in 2010, rising each year by 4 per cent plus the percentage increase of the consumer price index. "

He's on at the National Press Club now! ABC1 until 1330.