Thursday 08:50
Environment Secretary David Miliband today said the second Gleneagles Dialogue had demonstrated real and practical progress but dramatised the need for comprehensive global action to combat climate change.
Speaking in Monterrey, Mr Miliband said: "The meeting heard compelling new evidence in three areas - the economics of climate change, technology opportunities and the investment challenge. The international community needs urgently to up its game on a number of fronts to ensure the necessary investment in low carbon energy and adaptation is accelerated globally.
"The meeting will lead to enhanced action to promote lower carbon growth. However, the Dialogue also recognised that the scale of future investment needed is much larger than current investment flows. There needs to be a substantial expansion of the global carbon market.
"Without further action, we heard that carbon dioxide emissions in 2050 will be 137 per cent higher than in 2003, driven by the increasing use of coal for electricity generation, oil-based transport fuels and rapid economic growth in countries with large coal reserves. Business as usual is not an option."
Energy Minister Malcolm Wicks said:"The Dialogue has shown there is an urgent need to scale up investment in low carbon technologies, including carbon capture and storage.
"There are action that we can and must take now on energy efficiency which can reduce emissions immediately while saving money. Developing ambitious global standards is a good example. Becoming more energy efficient makes sense economically, is good for the environment and good for energy security."
The meeting heard presentations from Kathy Sierra of the World Bank on the Bank's Energy Investment Framework for a low carbon future, Claude Mandil on the International Energy Agency's work on the costs and potential of low carbon technologies and Sir Nicholas Stern on the economics of climate change.
Mr Miliband announced a UK/South Africa agreement to commission a joint study on possible scenarios for future frameworks on international climate change cooperation. This will be discussed at next Spring's United Nations Framework Convention on Climate Change discussions.
Other initiatives taken forward at the Ministerial Dialogue include a European Commission Action Plan on energy efficiency, to be launched at a European conference in January 2007.
The UK Government today also announced support for a Mexico energy efficiency and new building housing project under the World Bank's Energy Investment Framework - which can act as a catalyst to other projects with Dialogue partners.
The third meeting of the Dialogue will take place in Germany in Autumn 2007 when the Germans will also hold the G8 Presidency. Energy efficiency and renewable energy will be key issues for next year's meeting.
The Gleneagles Dialogue nations will report progress of the Dialogue at Japan's G8 Summit in 2008.
Notes to Editors:
1 The second Ministerial meeting of the Gleneagles Dialogue on Climate Change, Clean Energy and Sustainable Development took place in Monterrey, Mexico on October 3-4. The Gleneagles Dialogue was launched by the UK last year at the G8 Summit on July 6-8, 2005.
2 The Dialogue was attended by Ministers and senior officials with responsibility for energy and environment issues from the G8, the +5 countries (Mexico, Brazil, China, India and South Africa) and Australia, Indonesia, Nigeria, Poland, South Korea and Spain. Senior officials from the World Bank, Regional Development Banks, the UN Framework Convention on Climate Change, the International Energy Agency and the World Economic Forum business group along with Globe International were also in attendance.
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