Despite worldwide efforts to cut CO2 emissions, nations spewed 1.94 percent more CO2 emissions in 2008 than in 2007, according to new analysis by German-based renewable energy industry institute IWR, or the Institute for Renewable Energy.
Noting that worldwide emissions are up 40 percent since the 1990 baseline for the Kyoto Protocol, IWR Managing Director Norbert Allnoch, said, “Kyoto is not working out,” Reuters reports.
For emissions to be effectively cut, nations need to link the amount invested in renewable energy to their emissions, and track effectiveness on an ongoing basis, according to IWR.
About $170 billion was invested in renewables in 2008, a figure that needs to be more than $700 billion to be effective in reducing emissions, the group said.
Leaders of the U.S., Mexico and Canada, meanwhile, agreed Aug. 10 to begin to forge a “low-carbon North America,” reports Environment News Service.
At a trilateral meeting, President Barack Obama, President Felipe Calderon of Mexico and Prime Minister Stephen Harper of Canada, spoke about cooperating on an emissions trading system, as well as constructing a smart grid across the continent.
The three also discussed strategies for utilizing carbon sequestration technologies, the International Business Times reports.
The three nations agreed to develop a “North American Carbon Atlas” that would require uniform mapping methodology and data sharing regarding carbon emissions sources and potential storage sites in North America.