Sunday, September 2, 2007

SKorean fair trade commission says conglomerates run by small stakeholders

SYDNEY Thomson Financial - Economic growth in Pacific rim countries will increase emissions of the greenhouse gases blamed for global warming by 130 percent by 2050, a new Australian study released Sunday predicts.

But cleaner and more advanced technologies would slash the pollution scientists say could lead to increasingly wild weather and environmental disaster, the government's Bureau of Agricultural and Resource Economics said.

The study was presented by Prime Minister John Howard at a news conference to coincide with a week of meetings leading up to a summit of the 21-member Asia Pacific Economic Cooperation (APEC) forum.

It is based on a projection that APEC economies will grow by an average of 3.0 percent a year, with a resulting increase in energy consumption of around 140 percent.

Fossil fuels which produce greenhouse gases provide the bulk of APEC energy and are projected to continue to do so through to 2050, the study says.

"If current policy settings are continued, it is projected that energy supply in the APEC region in 2050 will be sourced from: coal 29 percent, oil 31 percent, gas 25 percent, nuclear nine percent, hydroelectricity two percent and biomass and other renewables four percent."

The introduction of cleaner and more advanced energy efficient and lower emission technologies would enable APEC countries to reduce emissions while maintaining economic growth, the study said.

"Primary energy consumption under an 'enhanced technology' development and deployment scenario is projected to be about 32 percent lower in APEC economies at 2050 than would otherwise be the case.

"Use of advanced technologies is projected to reduce APEC greenhouse gas emissions by 49 percent relative to the reference case at 2050."

APEC leaders will debate climate change at their summit on Sept 8-9, but Howard warned that they will not set any binding targets for reducing emissions.

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