(BN) Binding CO2 Cuts at Cancun Are ‘Crucial,’ Deutsche Bank Says


Binding CO2 Cuts at Cancun Are 'Crucial,' Deutsche Bank Says
2010-11-24 11:42:06.622 GMT

By Catherine Airlie
Nov. 24 (Bloomberg) -- Nations meeting in Cancun, Mexico
next week must commit to cutting emissions of carbon dioxide to
levels discussed at last year's talks to avoid escalating
climate risks, Deutsche Bank AG said.
It is "crucial" that the agreement to limit global
warming by 2 degrees Celsius will "be underpinned with binding
emissions reduction measures," Hans Schellnhuber, a climate
change adviser to Deutsche Bank said in an interview published
today on the bank's website. "Those who release governments
from this expectation may do the latter a favor, but not our
Waiting on changes will mean having to abruptly reduce
emissions to remain within the temperature range, which is
harder and more expensive than gradual cuts, Schellnhuber said.
"With an increase of more than 2 degrees Celsius, we would
enter a new world with risks on a completely different scale."
Schellnhuber is director of the Potsdam Institute for
Climate Impact Research. Carbon dioxide is a key greenhouse gas
scientists blame for global warming. Countries will gather in
Cancun, beginning Nov. 29 for annual United Nations-led climate

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