The Climate Change Conundrum

Yvo de Boer, Executive Secretary, UNFCC, at an OPEC seminar, says "OPEC part of the solution to climate change, not part of the problem" (source: UNFCC website). He might have actually committed a faux pas by making a statement like this. The world's largest cartel's greed sees no end and oil at $100 per barrel is just a matter of time. Higher the price of oil, higher will be the investment in "Green Technologies". Did Yvo de Boer mean OPEC's greed helps the cause of reversing climate change ?
What about a new slogan for green initiatives - "Opec's Envy, IPCC's Pride", on the lines of Onida's tagline ('Neighbor's Envy, Owner's Pride').

The IPCC report released yesterday points to some ominous signs. Not only does the report suggest that humankind is the cause of global warming, but also states that the results of inaction could be devastating.

United Nations Climate Change conference will be held in Indonesia during the first two weeks of December. Policymakers will begin to discuss a global climate change treaty that will replace the Kyoto protocol, expiring in 2012. Can they persuade the US and Australia to finally commit to reducing emissions ? And what about India and China ? Though the per capita emissions of these countries is far lower than the developed nations, there will be increasing pressure on them to commit to capping the overall emissions.

Meanwhile, climate change has become a big business and this lobby could induce a change in the stance of of politicians who believe that climate change action could hurt the economy. Policymakers are looking at near-term concerns, but one cannot miss the point that only those nations that are endowed with fossil fuels have to worry in the long run, unless they act decisively to invest their spoils (accrued through the high price of oil) in taking stakes in companies that own 'green technologies'.