At U.n., A Warm-up To Copenhagen Climate Talks

Forbes.com (Sep 22 2009) Construction , Cap and Trade , Emissions , Fossil Fuel

1. The United Nations Climate Conference in New York opened this morning with another round of now-familiar warnings about the price to be paid for inaction on controlling the release of carbon into Earth's atmosphere. "Now is the time to act against global warming," said Secretary General Ban Ki-moon. "History may not give us a better chance." President Barack Obama added that without a global pact to reduce greenhouse gas emissions, "we risk consigning future generations to irreversible catastrophe." Despite the rhetoric, the biggest challenge in New York remains basic: figuring out who should foot the bill for a global reduction in greenhouse gas emissions. Climate talks have long stalled as developed countries balk at levying expensive environmental regulations on their industry, which they fear would cause "carbon leakage," the movement of manufacturing and jobs to countries lacking environmental restrictions. Fears abound, too, that intellectual property rights will be violated ... (Read Full Article)

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