China and Australia top a global list of countries with planned oil, gas and coal projects that will act as “carbon bombs” and push the planet towards catastrophic climate change, a recent Greenpeace report warned, reports Oliver Milman at the UK Guardian. The study, entitled The Point of No Return, by the consultancy Ecofys, calculated that the 14 giant fossil fuel projects would produce annually in 2020 as much as the entire United States emits annually now, increasing global emissions by 20%. This would eat up a third of the global carbon budget that cannot be increased if warming is to be kept below 2 degrees C, considered the threshold for dangerous climate change. Simultaneously, the analysis suggests that there is a big chance of keeping emissions below the 2 degree target if all 14 projects are cancelled, with emissions peaking in 2015 before falling by 5% annually. Paradoxically, as China and Australia oversee this massive increase in coal exports, both countries are experiencing significant economic losses from the type of extreme weather that is predicted under global warming induced climate change.
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China and Australia top list of ‘carbon bomb’ projects. China and Australia top a global list of planned oil, gas and coal projects that will act as “carbon bombs” and push the planet towards catastrophic climate change, a Greenpeace report warned on Tuesday. The Guardian http://www.guardian.co.uk/environment/2013/jan/22/china-australia-carbon-bomb