Three lessons can be drawn from the "cyclone" going through world financial markets, former Victorian environment minister John Thwaites told the launch of a Melbourne carbon market services guide. Thwaites said the latest science indicates there is greater than a 50% chance of more than two degrees warming even if there is no further increase in atmospheric CO2.
As the release of a much-anticipated Treasury analysis of the economic effects of various emissions trajectories draws tantalisingly close, Treasurer Wayne Swan and Climate Change Minister Penny Wong on Friday released details of the underpinning assumptions.
Professor Ross Garnaut this morning handed to Prime Minister Kevin Rudd an all-embracing set of policy proposals to combat climate change. Garnaut warned that a failure by this generation to deal with climate change 'would haunt humanity until the end of time'.
Victoria's planning tribunal has overturned a council decision to grant permits for six homes on coastal land partly because of the risk of climate change-induced rising sea levels.
The Rudd Government is commissioning a major national risk assessment that will review the likely impacts of climate change on significant infrastructure and inform development of policies for infrastructure investment, maintenance and adaptation.
As well as power, water, transport and communications, the analysis will focus on buildings and settlements and key facilities.
Governments should be building 'planned retreat' principles into planning and development rules for coastal areas likely to be affected by rising sea levels, a coalition of community environmental lawyers tells a House of Representatives inquiry initiated by ministers Wong and Garrett.
