Reducing Emissions - More Ambition Needed
Last week, Japanese Prime Minister Aso announced Japan's mid-term (2020) target for emissions reductions - 8% from a 1990 baseline. The target looks slightly better when compared with 2005 figures - 15%. The international reaction has been critical - a lot of people were hoping that the Japanese would set out a more ambitious plan in the run-up to the Copenhagen meeting this December, where the successor framework to the 1997 Kyoto Protocol must be agreed. The UK's targets are considerably tougher - 34% on 1990 figures, and around 22% on 2005.
The announcement follows months of work by the Mid-Term Target Committee. They considered six options, ranging from allowing emissions to rise from 1990 levels to a 25% decrease on 1990. The outcome, of course, is a compromise - Japan knows that it must contribute to the international negotiations that will develop the new framework, but the Government does not want to pass on extra costs to households in an economically difficult time. However the costs of not tackling climate change will be even greater, as shown by Lord Stern's 2006 report on the economics of climate change. The target is domestic - the Japanese haven't said anything yet about how they might use the international carbon market, and emissions trading (on which Japanese industry are not keen).
We'd still like to see more ambition, and a focus on long-term benefit rather than short-term costs. A low carbon economy can lead to real opportunities for business. Japanese technology is cutting edge and her energy-saving record impressive. We have an important opportunity to get this message across later this week, when Adair Turner, the Chairman of the UK Financial Services Authority and of the Climate Change Committee, will be visiting Japan to talk to the Japanese Government and others about both financial regulation and next steps in environmental policy.
Posted at 15:50 16 June 2009 by David Warren | Comments[0]
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