Summary: OPEC kept its world oil demand forecasts for 2012 and 2013 virtually unchanged on Wednesday, with China expected to contribute the most to growth while industrialised countries
appeared to be headed for a decline.
Carbon emissions hit all-time high: Global carbon dioxide emissions reached an all-time high of 33 billion tonnes last year, despite reductions by industrialised countries
with binding Kyoto Protocol targets, according to a new report.
The study regards continued growth in the developing countries and emerging economies, and economic recovery by the industrialised countries
as the main factors for a record breaking 5.8 percent increase in global CO2 emissions between 2009 and 2010.
The Commission thus intends to put an end to speculative uses of the CDM, which is one of the Kyoto Protocol instruments (via the CDM, industrialised countries
have financed projects to reduce emissions in poorer countries and are rewarded with emissions credits).
Monday's stalemate was a result of a walkout led by the African bloc over the issue of emission cuts by industrialised countries
First, clarity is needed on ambitious, legally binding emission-reduction targets for industrialised countries
. Without such targets, the international community will not take the necessary action to address climate change, and developing countries will not have confidence that industrialised countries
are willing to take the lead on solving a problem that they caused.
Following a meeting of the Group of Ten (G10) industrialised countries
, at the headquarters of the Bank for International Settlements (BIS) in Basel, on 12 January, Jean-Claude Trichet, the president of the European Central Bank, confirmed that "the global economy will slow down significantly in 2009 and the industrialised countries
will probably have negative [growth] figures," but "2010 is expected to be the year of recovery".
, emerging economies as well as developing countries must reflect on the differentiated' commitments on reducing greenhouse gas (GHG) emissions by 2020 and 2050 that they are prepared to subscribe to.
Oil prices have fallen steeply from a record high of $147.27 a barrel on July 11 to about $113, pressured by evidence of slowing demand and economic growth in industrialised countries
. "The basic fundamentals look easier going forward, and we're pleased to see that," David Fyfe, an IEA analyst and acting head of its Oil Industry and Markets Division, told Reuters.
A survey of 36 industrialised countries
found asylum applications on the rise - with a 45% increase in Iraqis seeking asylum in the first half of this year compared with the previous six months.
"Once (developing countries) reach the level of industrialised countries
, the reduction begins," she said.