Reuters AlertNet Lite - HIGHLIGHTS-Key points in UK climate change report

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HIGHLIGHTS-Key points in UK climate change report

28 Oct 2006 20:05:09 GMT
Source: Reuters

LONDON, Oct 28 (Reuters) - Ignoring climate change could lead to economic upheaval on the scale of the 1930s Depression, underlining the need for urgent action to combat global warming, a British report on the costs of climate change says.

Here are some key findings from the report, a 27-page summary of which was obtained by Reuters:

* On current trends, average global temperatures will rise by 2-3 degrees centigrade within the next 50 years or so.

* If emissions continue to grow, the earth could warm by several more degrees, with severe consequences that would hit poor countries most.

* Stabilising greenhouse gases in the atmosphere will cost about 1 percent of annual global output by 2050. If no action is taken, climate change will reduce global consumption per head by between five and 20 percent.

* The global power sector will have to be at least 60 percent, and perhaps as much as 75 percent, decarbonised by 2050 to stabilise greenhouse gases in the atmosphere.

* Markets for low-carbon energy products are likely to be worth at least $500 billion per year by 2050, and perhaps more.

* Worldwide incentives to encourage the use of new low-carbon technologies should be raised by two to five times from the current level of some $34 billion a year.

* Emissions from deforestation are estimated to represent more than 18 percent of global emissions, a share greater than is produced by the global transport sector.

* The poorest developing countries will be hit earliest and hardest by climate change. The international community has an obligation to support them in adapting to climate change.

For story on report, please click on [nL28876194]

For more detailed highlights, please click on [L277496]

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Last updated:Sat Oct 28 20:08:19 2006