Friday, March 08, 2013

Emissions Heading in Wrong Direction - Fast

2012 saw the second greatest annual increase in greenhouse gas emissions, bested (or worsted) by 1998.

Carbon dioxide levels measured at at Mauna Loa observatory in Hawaii jumped by 2.67 parts per million (ppm) in 2012 to 395ppm, said Pieter Tans, who leads the greenhouse gas measurement team for the US National Oceanic and Atmospheric Administration (NOAA). The record was an increase of 2.93ppm in 1998.

The jump comes as a study published in Science on Thursday looking at global surface temperatures for the past 1,500 years warned that "recent warming is unprecedented", prompting UN climate chief, Christiana Figueres, to say that "staggering global temps show urgent need to act. Rapid climate change must be countered with accelerated action."

Oh, I know.   Capitalism solves all problems.   There must be a market-based solution to this.   Derivatives, Credit Default Swaps, maybe something altogether new!

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