So, What‘s The Issue?Introduction Droughts, rising seaCauses levels, agriculture & migrationConsequences Rising Global TemperaturesEconomic Greenhouse GasSustainability EmissionsMitigationConclusion
Why is this Issue Important?IntroductionCausesConsequences IndustryEconomicSustainabilityMitigation Economy EnvironmentConclusion
Natural CausesIntroductionCausesConsequencesEconomicSustainabilityMitigation • Sun’s output is averagely the same.Conclusion • Natural Causes are not enough to explain climate change. • Human Activities plays the major role
• Main Factor • Most abundant • Steadily increasing • More warming • Heat Trapping gas effectsIntroductionCauses Carbon WaterConsequences Dioxide VaporEconomic OtherSustainability heat CFC trapping gasesMitigation • Human Activity in • Methane , nitrous Refrigerators oxide • Ozone Depletion • Human activityConclusion • Indirectly intensify • Heating purposes global warming
Water ResourcesIntroduction • Floods and Droughts areCauses more likely to occur • Rainfall becomesConsequences concentrated to main eventsEconomic • Loss of water data historySustainability for prediction • Threatening marine lifeMitigation • Polar glaciers melt & sea level risesConclusion
Energy SupplyIntroduction • Reduction in hydropowerCauses supply • Fluctuation of energyConsequences from wind turbines • Increase in demand forEconomic cooling energy whichSustainability overcome saving from less heating energy • Rising energy prices areMitigation transferred to consumersConclusion
Risk BurdensIntroduction • Increase fear for designCauses and location of different facilitiesConsequences • Fear of hazardous material leaking due toEconomic bad weather conditionsSustainability • Higher insurance fees • Higher regulationsMitigationConclusion
International TradeIntroduction • Storms and bad weatherCauses conditions affects the international tradeConsequences routes • Disruption of flightEconomic scheduleSustainability • Destruction of infrastructure and transportation meansMitigationConclusion
AgricultureIntroduction • Waves of drought andCauses Downpours • Decreased crop yieldConsequences • Higher temperature benefits insect pests andEconomic weedsSustainability • Livestock productivity decreasesMitigation • Increase of food pricesConclusion
Economic SustainabilityIntroductionCausesConsequencesEconomicSustainability Global GDP Investment of Increasing may drop 5- 1% of GDP in International 20% in emission Aid to developMitigation perpetuity reduction & educate without action could reduce poorer regions worst impacts on climate changeConclusion
Climate Change MitigationIntroduction Climate change mitigation is action to decrease the power ofCauses radiative forcing in order to diminish the possible effects of global warming.Consequences • Most means of mitigations seem effective only for avoiding further climateEconomic change.Sustainability • Much has been done on the field of climate changeMitigation mitigation. • Focus on mitigation actionsConclusion on a worldwide and European level.
UNFCCCIntroduction • An international treaty. • Entered into force in March 1994.Causes • 194 parties – associated in the Conference of the Parties (COP).Consequences • COP is responsible for maintaining international determinations to address climate change on track.Economic • Most important COP in Kyoto – where Kyoto protocol was adopted.SustainabilityMitigationConclusion
UNFCCC – Kyoto ProtocolIntroduction Kyoto Protocol is an international agreement that sets Binding goals for 37 industrialized countries and the countries ofCauses European community for reducing GHG emissions.Consequences • Entered into force in 2005. • Commitment period: 2008-2012.Economic • On average, industrialized countriesSustainability have to reduce emissions 5% against 1990 levels over the 5 years period. • Bigger burden on industrialized countries.Mitigation • 191 countries signed and ratified the Kyoto Protocol. • The Protocol tacklesConclusion emissions of 6 main GHGs.
Post-Kyoto RegimeIntroductionCauses • At the end of 2012 the commitment period of the KyotoConsequences Protocol will expire. • Perceived as one of the mostEconomic important first steps towards aSustainability serious global emission reduction regime.Mitigation • So far no binding treaty has been negotiated.Conclusion
European Union Emissions Trading Scheme – EU ETS KyotoThe EU ETS, as the first and the biggest multinational CO2 emission trading system in the world, is the cornerstone of the EU‘s strategy for fighting climate change. FACTS CAP & TRADE SYSTEM• Incorporates 30 states. • Scheme caps the total amount of allowed emissions and• Covers sectors, that are creates scarcity in the market. collectively responsible for • Allows participants to buy and close to half of the EU’s sell CO2 allowances as they emissions of CO2 and 40% of its total GHG emissions. require - within the limit. • Installations have to surrender• Has a high potential to allowances equivalent to their incorporate many economic emissions at the end of each sectors. year.
EU ETS - PhasesIntroductionCausesConsequencesEconomicSustainabilityMitigationConclusion
Social Cost of CarbonIntroduction “NPV of incremental damage due toCauses a small increase in carbon dioxide emissions”ConsequencesEconomicSustainabilityMitigationConclusion