Economic Incentives to Fight Climate Change

graphI don’t think we need another reason to do all we can to curb climate change, but Sir Nicholas Stern a British economist has found one more. Climate change is obviously going to hinder economic progress, yet large corporations argue that there is nothing to worry about – well Stern is predicting massive economic repercussions if we don’t act on curbing climate change. The BBC reports that Stern argues “global warming could shrink the global economy by 20%.”

So, what is this story doing on a good news website? Well, there is good news in all of this. The Stern report can hopefully influence those who decide policies to act in favour of the environment and sway those who still doubt climate change is going to hurt us. British PM Tony Blair is already arguing for action.

We also have time to react to climate change according to Stern. He said “That’s why I’m optimistic – having done this review – that we have the time and knowledge to act. But only if we act internationally, strongly and urgently.”

New Diesel Laws in USA Will Clean Air

Diesel fuel in the USA will have to contain a lot less sulfur thanks to a new law that just went into effect. This cleaner diesel is being compared to the removal of lead from gasoline in terms of its potential impact on air quality.

“The agency estimates that by 2030, when most old engines will have been replaced, 20,000 premature deaths, tens of thousands of illnesses, and more than 7,000 hospital visits will be prevented every year.

Officials said cleaner diesel fuel will immediately cut soot emissions from any diesel vehicle by 10 percent. But when combined with new engines hitting the road in January, it will enable emission reductions of up to 95 percent. ”

Government to Cut Greenhouse Gas by 2010

breathe.jpgCanada’s Environment Minister Rona Ambrose introduced a proposed clean air act during a news conference on Parliament Hill in Ottawa on Thursday. The Tory Government has targeted industry sectors who will now have mandatory requirements that will be enforced to cut greenhouse emissions in half by 2050. These industries include gas and oil as well as the auto industry.

By 2011 further measures will be taken for more long term goals to cut smog emmisions, the act will take a baby steps approach toward a larger goal of reductions up to 65 per cent by 2050. Although it is a small step it is nice to see some action being taken. Ambrose said any polluter who goes over the regulated targets will be fined, with the money going to an environmental damage fund.