08 Aralık 2015 Salı 07:57
S&P: Coal still cornerstone of economy, but global efforts promising

COP21 talks in Paris focusing on climate change agenda.

90 percent of its 4.6 billion year history, and there is no sign of any slowdown” and called on for global effort to reverse global warming.

According to the company's special report entitled “Climate Risk: Rising Tides Raise The Stakes”, carbon constraints remains a substantial energy source, accounting for 41 percent of global carbon emissions, delivering 30 percent of energy and 40 percent of power generation worldwide.

However, with efforts of the EU, the U.S., and China, a significant decline in coal production and consumption worldwide is becoming a much more realistic concept, applauded the report.

P Dow Jones Indices.

“For investors looking to protect their assets, the important question is becoming whether the transition to a low-carbon economy will be orderly or disruptive. The longer the world waits to curb emissions, the higher the eventual cost will be” Kochetygova urged.

Risk of "billions of dollars in loss"

“Global warming is leading to higher sea levels--a reflection of melting glaciers in Arctic regions, as well as the greater volume of warmer water globally” she added.

Thus, the risks could lead to billions of dollars in losses over the next few decades if nothing is done, Kochetygova warned, reiterating risk of melting glaciers in Arctic regions and the greater volume of warmer water globally.

“Depending on the level and pace of the rising seas, coast-hugging highways, seawalls, harbors, nearby water, sewage, and power facilities, and other seaside infrastructure--in addition to millions of homes--could see billions of dollars in losses over the next few decades if nothing is done” she said.

UN Climate Change Conference in Paris from Nov. 30-Dec. 11 “will produce a global treaty”.


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