Sunday, March 22, 2009

Emissions heat up in economic meltdown


AUSTRALIA'S carbon emissions surged in the last quarter of 2008 despite a crumbling economy.

The increase defied predictions that the financial crisis could slow emissions.

Research by the Climate Institute suggests that the 8000-tonne increase in emissions in the December quarter is what would have been expected if the economy had been growing by 2 to 3 per cent. Instead, it shrank by 0.5 per cent.

Earlier this month, Professor Ross Garnaut's, the economist behind the Garnaut review of climate change prepared for the Federal Government, said the downturn in global financial markets would slow emissions and "buy the world two years" as global production slowed.

See full Article.