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EU CLIMATE ACTION: A CASE FOR EU ETS BACKLOADING EUROPEAN PARLIAMENT 11 APRIL 2013 Wendel Trio Climate Action Network Europe. CLIMATE CHANGE IMPACTS. 400.000 deaths each year due to hunger and communicable diseases aggravated by climate change
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EU CLIMATE ACTION: A CASE FOR EU ETS BACKLOADING EUROPEAN PARLIAMENT 11 APRIL 2013 Wendel Trio Climate Action Network Europe
CLIMATE CHANGE IMPACTS • 400.000 deaths each year due to hunger and communicable diseases aggravated by climate change • Failure to act already costs the world economy 1.6% of global GDP, amounting to 1.2 trillion US Dollars of forgone prosperity each year (Climate Vulnerability Monitor)
Economic impacts • Unless we take action on climate change, future generations will be roasted, toasted, fried and grilled - Christine Lagarde, Managing Director International Monetary Fund • Climate change is a fundamental threat to global economic development. The latest predictions should shock us into action - Jim Yong Kim, President of The World Bank • I got it wrong on climate change: it's far far worse - Nicholas Stern, London School of Economics and author of the Review on the Economics of Climate Change
EU CLIMATE ACTION • UNEP: enormous emissions gap up to 2020, countries, including EU, are not doing enough • EU needs to decarbonize by mid-century • Need to go to upper end of 80-95% pledge • Current ETS only brings us to 70%
