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The Story from Cancun (COP 16) December 1, 2010

Posted by agastyamuthanna in Climate Change.
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Hi everyone, my name is Agastya Muthanna. I have been a British Council Climate Champ since 2008. I am in the penultimate year of my Economics degree at the University of Cambridge, and am representing the Indian British Council at the 16th annual United Nations organized meeting on climate change (COP16).

This is the second COP I have attended (the first was last year in Copenhagen) and I cant help but think that perhaps if the first one was here at sunny beautiful Cancun, and not cold and crowded Copenhagen we may have had a more concrete result. The weather is perfect, and the conference is extremely well organized.

On this first post I’d like to lay out hat I would like to see, from a policy perspective. My next post shall be more personal.

The Indian Environmental Minister Mr Ramesh summarised the topics he felt agreement are expected. These were, first, the establishment of a green fund that will collect and allocate Climate finance, second, an agreement on meeting adaptation needs. His third expectation is an endorsement of Redd (Reducing Emissions from Deforestation and Forest Degradation), and on transparency issue concerning measurement ,reporting and verification (MRV)

I’m going to end this post with a quick summary of what I would like to see: The global climate meetings in Mexico in late 2010 and South Africa in 2011 should put much more emphasis on the links between climate action and development. Climate change should never be used as a reason for condemning the world’s poor to continued poverty. But their road to riches should take the climate into account. The cities where ever more people will be living need to grow in ways that don’t exacerbate the problem; the farms where ever fewer people are having to produce ever more food must be far better supplied with know-how, improved crops and insurance against the adverse effects that are sure to come. Development needs to be climate-ready, even if it cannot be climate-proof.

Second, new thinking is needed on how to change the energy mix that the world uses. Making fossil-fuel energy more expensive has so far not delivered much by way of controlling emissions. The better way is to make clean, renewable energies cheaper. Research and development can be part of that solution. But so can a willingness by banks and donors to increase the market for such energy systems. Buying in bulk is a tried and tested way of bringing down prices.

Such assistance and subsidy have the attraction of a built-in cut-off. As soon as increased demand and improved technology make renewables cheaper than fossil alternatives, the desire to generate energy through the burning of coal and oil will seem perverse, and the transition to a future beyond fossil fuels will become irreversible.

Finally, I would like to see more emphasis on using public policy and funds to increase private finance. Private finance makes up the bulk of all investments in Green technology, and mitigation (the ratio of private to public investment is currently around 5:1). There has been virtually no discussion about innovative measure to increase private capital flows, which can increase dramatically if given the right incentives.

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