Pain2gain/ UN Needs New Body to Spend CO2 Revenue, De Boer Says

How much pain can we bear folks? Surely this body is needed and the world will pile in? Comments my way

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UN Needs New Body to Spend CO2 Revenue, De Boer Says (Update1)
2010-12-10 00:03:28.451 GMT

(Adds allocation of revenues in sixth paragraph.)

By Mathew Carr
Dec. 9 (Bloomberg) -- The United Nations needs a new body
to spend revenue from future sales of carbon allowances,
ensuring that developing nations build sustainable economies,
according to the former climate chief.
"The system isn't really coherently organized," said Yvo
de Boer, former head at the UN Framework Convention on Climate
Change and now climate adviser at KPMG International. The World
Bank and the UN Environment Program are "not really playing
roles that can very clearly be distinguished. There's not really
an organization to help countries on the energy and industry
UN envoys are meeting in Cancun, Mexico, to replace or
extend the 1997 Kyoto Protocol, a treaty that limits emissions
of most rich nations in the five years through 2012. China wants
the U.S. to sign onto a similar treaty, while U.S. envoys say
China hasn't been transparent enough in its efforts to limit
greenhouse gases.
"What I'm thinking of is a body with implementation
responsibilities and financial resources in the domain of
sustainable development," de Boer said in an interview after a
speech at an International Emissions Trading Association
conference in Cancun. "It's the body that actually delivers
assistance on green growth," potentially using revenue
generated from the sale of carbon allowances.
The UN system is now is "all about the allocation of pain
-- pain in the form of emission-reduction targets, pain in the
form of financial commitments," de Boer said.
The system should be transformed into one that's "all
about the allocation of gain," he said. Under that system,
"every country of the world is part of a global trading system.
Every country to varying degrees sells significant permits. The
revenue is pooled at international level. That revenue, in the
form of gain, is allocated to countries according to need."
Envoys at this month's talks probably won't agree on the
new body or system, de Boer said. "It's probably not going to
happen." Global warming talks will "muddle on."

For Related News and Information:
EU carbon-market stories: TNI EU ENVMARKET <GO>
Top energy news: ETOP <GO>
Top environmental stories: GREEN <GO>

--Editors: Mike Anderson, Randall Hackley.

To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or

To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net