BONN, Germany, June 5 (Reuters) – The World Bank will suggest a global levy on jet and shipping fuel in recommendations to G20 governments later this year on raising climate finance, a senior official said on Sunday.
Developed countries have already written off chances of agreement on a new binding deal at a U.N. conference in Durban this year, placing a new focus on piecemeal efforts including fund-raising.
Binding targets under the Kyoto Protocol cap the greenhouse gas emissions of nearly 40 industrialised countries but expire in 2012 and now look unlikely to be extended in time.
Astrophysicist..Global Warming Fears Are False: Heads Will Roll!
The World Bank is focusing on a levy on shipping and jet fuels in a report to G20 finance minister in October, among other efforts to keep climate action on track.
“We are looking at carbon emissions-based sources … including bunker (shipping) fuels and aviation fuels, that would be internationally coordinated albeit nationally collected,” said Andrew Steer, World Bank special envoy for climate change.
The Bank estimates the extra cost to help the developing world prepare for more droughts, floods and rising seas at $100 billion annually. Various sources put the extra cost of cutting carbon emissions at $200 billion or more annually.
Steer said he was disappointed by the pace of a U.N. climate process which launched talks in 2007 to find a Kyoto successor.
“I’ve got to say the situation is very urgent and sometimes that sense of urgency is not evident in the negotiations.”
“Durban could make important progress in a number of areas but an overall deal is not really on the cards right now,” he said on the sidelines of a new round of climate talks from June 6-17 in Bonn, Germany.
“In the meantime let’s get on with delivering what is committed,” he said, referring to various voluntary emissions targets and measures including a target agreed two years ago for the world to raise $100 billion climate aid annually by 2020.
The U.N. talks are stalled on the future of Kyoto, which only caps rich country emissions. Developing countries want to extend the pact while most developed nations want to replace it.
Global shipping and aviation emissions are neither limited nor measured under Kyoto. As a result these sectors are coming under closer scrutiny and the European Union in particular is involved in an escalating spat with the global airline body.
The EU plans a levy on the emissions of most flights that land or depart from Europe from January 2012, regardless of airline, a measure the head of the International Air Transport Association (IATA) on Sunday called illegal.
In addition to a levy on transport fuels, the World Bank is investigating raising funds from the sale of emissions permits to countries and companies, as already happens under the EU carbon market, and soft loans from development banks to stimulate private sector cash, said Steer. (Editing by Jon Boyle)
- Rasmussen : 72% Of America Want Off Shore Drilling
- Stick a Fork in the Global Warming Farce: Ayatollah Obama Is Cooked.
- A Call For An International Justice Tribunal: Bring To Trial, Those Who Continue To Perpetrate Carbon Taxation Fraud Scheme Upon Humanity As A Whole.
- BREAKING: More Than 1000 International Scientists Call Man-Made Global Warming A Fraud – Challenge NWO Operatives ~ UN IPCC & Gore
- Remember -> Communist Joe Lieberman, Accepts Fraudulent Science Data For America’s Republic: U.S. Senate Found Crooked Scientists Obstructed, Concealed, Manipulated, Colluded, & Lobbied Influence Upon Political Processes For Climate Scheme.
- Rep. Jim Sensenbrenner (R-Wis.): Ends Democrat’s Gimmicky House Climate Panel.
- Meet The Market Makers For The Climategate Fraud ~ Green Energy Products!
- Abu Bakr Bloomberg, Calls For Fraudulent Carbon Tax: 72% Of Americans Say Drill Here Drill Now!
- Remember -> Communist Joe Lieberman, Accepts Fraudulent Science Data For America’s Republic: U.S. Senate Found Crooked Scientists Obstructed, Concealed, Manipulated, Colluded, & Lobbied Influence Upon Political Processes For Climate Scheme.
- Coldest Winter In 1,000 Years On Its Way ~~ While Fear Mongers Of Global Warming, Laugh All The Way To The Bank!
- Senator Harry Kerry Regurgitates Globalist Climate Propaganda: Line By Line On Senate Floor, Senator James Inhofe Exposes Soros Fraud!
- Barack Obama: ‘oil spill is No 1 priority’ : Do Liberals Support Obama Sending Billions In U.S. Taxpayer Dollars For Brazil To Drill New Offshore Oil Wells?
- Our Glaciers Are Growing, Not Melting: Lying Al Gore Continues Climategate Deception!
- U.S. Senate EPW Committee: Found Climate Scientists Obstructed, Concealed, Manipulated, Colluded, & Lobbied Influence Upon Political Processes.
- Americans Back To Reality: Its Time To Brace For Global Cooling!!!
- What Ended The Ice Age? Global Warming And There Were No People There – Also, Obama’s Welfare State!
- Global Warming Alarmists And The GATES Of Their Stupidity!
- Iceland Shuts Down Rothschild Banking Cabal: While PINO [Patriot In Name Only] Paul Ryan Feeds The Bastards ~ Forces America To Give Up Medicare & Medicaid To Pay For The Fraudulent $Trillion Banking Cabal Bailout Of 2009!
Related articles
- Canada May Save $6.7 Billion by Exiting Kyoto Pact aka; Banker’s Global ‘Warmism’ Scheme: Especially After Forcing Canadians To Pay $1.2 Billion For Banker’s G20 Festivities! (politicalvelcraft.org)
- Victory: Canada Quits Kyoto Protocol aka; Banker’s Global Warming Scheme!! (politicalvelcraft.org)
- ‘Canada is leaving Kyoto – big deal!’ and other letters on Peter Kent’s op-ed (business.financialpost.com)
- In Unprecedented Move, Harper Government Pulls Canada out Kyoto Protocol (stephenleahy.net)
- Tracking the World Bank at COP17 (climate-connections.org)
- About Carbon Trading (punamjr.wordpress.com)
- Kyoto was built to fail. It is time the world abandoned it | Juliette Jowit (guardian.co.uk)
- Durban climate change summit: global deal will boost green economy in Britain (telegraph.co.uk)
- Why Durban is different to climate change agreements of the past – The Guardian (guardian.co.uk)
Political Vel Craft 