Global warming could cost the world up to $20 trillion over the coming decades in the effort to develop cleaner energy sources according to a new report issues by UN Secretary General, Ban ki-moon. The report will be a major topic of discussion at the upcoming two day climate meeting in Febrary which is intended to help shape the direction of UN policy on climate control. A new climate control treaty is expected by 2009 that will replace the existing Kyoto Agreement. The Kyoto pact requires the 37 industrial nations to reuce greenhouse gases by a relatively modest 5% on average.
Much of the focus on climate control debate revolves around the United States which simply has refused to cooperate with nations of the world and the emerging industrial giants of China and India which are and increasingly will become major sources of pollution. The 52 page report by Ban argues that a global investment of betwen $15 to $20 trillion will be required “to place the world on a markedly different and sustainable energy trajectory.”
A great unknown is the attitude of the new American president who will assume office in January of 2009. Will she/he be an activist in the struggle to control the effects of global warming or will she/he ignore it as has been the policy of George Bush? Only the future knows the answer to that question.