The major sticking point for world leaders attending the climate change conference in Paris(COP21) is to reconcile the cost to the global economy of greenhouse gas reduction and the cost to the planet of climate change.
Research shows that if the United States reduces greenhouse gas by 26-28 percent GDP would be hit to the tune of between $154 bn and $172 bn annually.
According to activists leading economies must bite the bullet.
Peter Kaiser is from Greenpeace are in a new world and every country has to do its utmost to limit greenhouse gas emissions but also we need to a clear decision about a long term goal to phase out coal, oil and gas and to enter into 100 per cent renewable energy generation by 2050 and I would say there is a fifty-fifty chance that we get it.”
Governments appear more than willing to pledge reductions, but the implementation remains vague
Why the hesitation?
Because Greenhouse gas reduction pledges in Paris from the EU, US, Mexico and China alone will take some $730bn out of the global economy per-year by 2030.