Word: carbonations
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...middle of the biggest economic maelstrom in decades. But President-elect Barack Obama apparently is not dissuaded. At an international conference on climate change convened on Nov. 18 by California governor Arnold Schwarzenegger, Obama told the audience in taped remarks that he intended to stick to the aggressive carbon-reduction targets he promised before the election, beginning with a federal cap-and-trade system that would put the U.S. on course to reduce emissions back to 1990 levels by 2020, then cut them by another 80% by 2050. He also reiterated a campaign promise to invest $15 billion a year...
...Kyoto Protocol - that he intends to fight climate change head-on. And his statement may well buoy the flagging global momentum on climate change. The European Union, which has long led the world in aggressively addressing global warming, has lately gotten cold feet about its own ambitious carbon targets, with poorer members like Poland arguing that such goals are unaffordable in a depressed global economy. Big developing nations like China, India and Brazil, which will be responsible for the majority of future carbon emissions, have meanwhile remained reluctant to do much about climate change as long as the U.S. stays...
...will still be in charge - thus the real focus will be on next year's summit, in Copenhagen, when Obama will hold the reins and the world will face its self-imposed deadline to pass a new Kyoto Protocol. Green activists hope that Obama's plans for a national carbon cap will help break the logjam that has kept global climate talks largely frozen for years, including the debate over whether the U.S. or developing countries should move first. Bush has argued that a global climate deal is meaningless unless the big developing nations are required to take action...
Although Governor Schwarzenegger's summit was overwhelmed by Obama's wattage, other good news emerged. Representatives from Indonesia - the third biggest carbon emitter in the world, thanks chiefly to massive deforestation - announced that the country would accept "avoided deforestation" projects with partners in the U.S. These projects allow companies in developed countries to pay to preserve forests in rain-forest nations in exchange for the carbon credits contained within the saved trees. Indonesia has long been wary of the method, fearing that it would lose sovereignty over its sprawling forests, but the Nov. 18 announcement is a hopeful sign that...
...place a regulatory system and begin to achieve CO2 reduction and build that clean, 21st century economy he talks about," says Nilles. Obama's position on coal isn't exactly clear, though he has said that he will work to develop "clean coal" plans that can capture and sequester carbon. What's certain is that the future of coal just got a lot cloudier - and the future of the climate might be a bit brighter...