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China’s carbon emissions will start falling by 2050, its top climate change policymaker said, and the 1st time the world’s largest emitter has given such a time-frame. Whether China will agree to some kind of cap on its emissions is a critical question ahead of global climate change talks in December in Copenhagen. Beijing argues, as do most developing countries, that developed nations should take responsibility for cutting emissions first, since global warming originated with their industrialization. China and India have been resisting pressure from developed nations to agree to a target of reducing emissions by an overall average of 50% by 2050. Beijing’s view is this; that as China still needs to grow its economy to help its people escape poverty, it is too early to discuss emissions caps. The Chinese Academy of Sciences has said that with major technological support from developed nations, China could see its emissions peak between 2030 and 2040. Other Chinese experts say carbon output will keep rising until 2050 unless radical controls are adopted. No radical programs are under way at this time.

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Last weeks long awaited G20 Summit Communique lifted the hopes of the world’s investors and leaves a lot of work to be done going forward by the Group. The language of the was vague and optimistic

The Highlights:
On Resources: The G-20 announced US$50B for low-income countries, and an additional US$100B in lending for Development Banks.

On Reform: Developing countries will have greater representation in the international financial institutions and that election to World Bank/IMF leadership will be based on merit.
On Regulation: The G-20 announced regulation of illicit tax havens.

As with all world summits, the G-20, just stated the goals and heralded the agreements of the parity countries leaving the hard specific work to be done.

The powers that be need to work to ensure that money going to developing countries is given as grants, not loans that trigger another debt crisis.

There remains much work to be done on the Green Agenda in the interests of developing countries at the UN Climate Change Conference in Copenhagen later this year.

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