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Road to Copenhagen - Part 3: Re-Tooling Industry





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In case we need more evidence that an urgent economic transformation is required to avoid catastrophic climate change, it can be found in a new study commissioned by World Wildlife Fund International.

Conducted by Climate Risk Pty. Ltd. of Great Britain and Australia, the study concludes:
Runaway climate change is almost inevitable without specific action to implement low-carbon re-industrialization over the next five years (emphasis mine)…World governments have a window that will close between now and 2014. In that time they must establish fully operational, low-carbon industrial architecture. This must drive a low-carbon re-industrialization that will be faster than any previous economic and industry transformation…Today, only three out of 20 industries are moving sufficiently fast enough.
By “low carbon re-industrialization”, the authors mean energy efficiency and clean generation technologies, low-carbon agriculture, and sustainable forestry. They have identified 24 critical resources and industries the world will need to develop quickly to avoid climate catastrophe. Among their conclusions:

o By itself, emissions trading will not be enough to cause the necessary re-industrialization of the world economy. We will need massive private investments; tens of trillions of dollars from the investment community; and more aggressive government action to create a stable long-term investment environment.
“Starting with the least-cost mitigation solutions and working our way forward to higher-cost solutions as carbon prices rise – that approach will take too long,” says Sean Kidney, Climate Risk’s manager in Europe. “We need to tackle all solutions at the same time.” Continued...

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