Global temperature may hit 4.0C by the end of the century

The global temperature which is 0.76C higher today than before the start of the 20th century could reach 4.0C by the end of the century, said Consultant to Carbon Asia (Pvt) Ltd. and Author, Carloyn Fry.

She was addressing a Forum on 'Preparing Sri Lanka to succeed in a carbon restrained world' organised by the European Chamber of Commerce of Sri Lanka (ECCSL) in partnership with Carbon Asia (Pvt) Ltd.

Fry said flash floods in Sri Lanka, Africa, South Asia and North Korea, droughts in South Africa and Bolivia and the hurricanes in the United States are evidence of the rising global temperature.

Human activities added over 34 billion tons of carbon dioxide to the atmosphere last year.

Carbon dioxide which is accountable for 53 per cent of global warming is emitted by burning fossil fuels, deforestation and manufacture of cement from limestone.

Assistant Resident Representative, United Nations Development Program Sri Lanka, Ananda Mallawatantri said US$ 60-90 billion is required per year to address environmental issues linked to poverty reduction.

"New investments and financing mechanisms are needed to minimise the effects of rising atmospheric temperature", he said.

Over a decade ago most countries joined the United Nations Framework Convention on Climate Change (UNFCCC) to reduce global warming.

The UNFCCC was set up in 1994 to stabilise greenhouse gas concentrations and prevent the temperature rise into a dangerous level. The Kyoto Protocol is the legally binding mechanism of the UNFCCC to reduce emissions.

The protocol aims to reduce emissions of greenhouse gases from developed countries by five per cent below 1990 levels, from 2008 - 2012.

Regional and national targets have been set to achieve it. The European Union (EU-15) must cut emissions by eight per cent, Japan by six per cent and Russia must stabilise. Discussions are under way to set new targets for post 2012.

The most effective way to reduce the impact of greenhouse gases is through carbon markets which work by setting quotas for emissions. Operators releasing more greenhouse gases than what they are entitled to are fined, while those emitting less are rewarded.