US, China, Wealthy Nations Should Bear the Costs of Reducing Carbon Emissions: Stockholm Environment Institute
Not that the principle of this is new, but in an effort to push forward a new global treaty on greenhouse gas emission reduction, the Stockholm Environment Institute has said that the United States, China, and other wealthy nations should be responsible for the majority of the costs of reducing greenhouse gas emissions, Bloomberg reports.
Wealthy Would Have to Pay For Poor Nations' Reductions
Under the proposal both national income and overall emissions would be considered when determining the level of carbon emission cuts a country would be required to make. Furthermore, wealthy nations would be obliged to do more than simply cut their own emissions, but would also be required to pay for emissions reduction projects in poorer nations. US + China Responsible For 41% of Global Carbon Cuts
The Stockholm Institute proposal would require the US to be responsible for carrying out 26.7% of global greenhouse gas reductions by 2020, China would be responsible for 14% of global emission reduction. Of the two-thirds of global reductions for which wealthy nations would be responsible, half of those would come from supporting reductions in poorer countries.
Under the plan, a poorer nation is defined as one which has a per capita income of $7,500 a year or less.
I would love to point you in the direction of the full details of the proposal on the Stockholm Environment Institute’s website, but it does not yet appear to be available. The details here were presented by the institute’s energy director in Berlin earlier today.
via :: Bloomberg
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