Angela Merkel calls for global carbon market

25th September 2007, Comments 0 comments

25 September 2007, New York (dpa) - German Chancellor Angela Merkel on Monday called for a global carbon-trading system to tackle the growing costs of global warming and prevent "dramatic damage" in the future.

25 September 2007

New York (dpa) - German Chancellor Angela Merkel on Monday called for a global carbon-trading system to tackle the growing costs of global warming and prevent "dramatic damage" in the future.

Speaking at a major UN climate conference in New York, Merkel said it was up to industrial nations to give developing countries, which have only recently begun to impact global carbon levels, a reason to act.

"Industrialized countries must play a pioneering role here," she said. "They have to set themselves ambitious reduction targests. They have to demonstrate how they intend to achieve these targets."

The European Union has already resolved to reduce carbon emissions by 20 per cent from 1990 levels by 2020, but Merkel said that figure could be raised to 30 per cent if there was an international agreement that bound other regions as well.

A UN conference in Bali, Indonesia is set to kick-off attempts to agree on a climate treaty for after 2012, when the Kyoto Protocol which limited emissions for developed nations expires.

"We should agree on a clear road map" in Bali, Merkel said.

A carbon trading system, which puts a quota on the amount of greenhouse gases industries can emit, must have a "central role" in any future attempts to reduce emissions, Merkel said.

"Only when greenhouse gases have a price will climate friendly technologies really become economically attractive," she said.

The European Union in 2005 introduced the world's largest carbon trading scheme for factories and power plants. But the system has been hampered by countries issuing too many permits, reducing the scheme's effectiveness.

Merkel said the world must succeed in cutting carbon emissions in half by the end of the century - the "only way we can avert the worst consequences of climate change."

Merkel arrived in New York shortly before her speech Monday on her first visiting to the United Nations as German chancellor. She plans to address an annual gathering of the General Assembly Tuesday afternoon.

Merkel was one of more than 80 world leaders and 150 speakers to address the one-day climate change conference.

DPA

Subject: German news

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