Viw Magazine

Business Coach

  • Written by Robert Hales, Director Centre for Sustainable Enterprise, Griffith University
This week's climate conference in Madrid is key to getting global cooperation on climate change, the impacts of which are already being felt. Dean Lewins/AAP

Almost 200 world leaders gather in Madrid this week for climate talks which will largely determine the success of the Paris agreement, and by extension, the extent to which the planet will suffer under climate change.

Negotiations at the so-called COP25 will focus on finalising details of the Paris Agreement. Nations will haggle over how bold emissions reductions will be, and how to measure and achieve them.

Much is riding on a successful outcome in Madrid. The challenge is to get nations further along the road to the strong climate goals, without any major diplomatic rifts or a collapse in talks.

What COP25 is about

COP25 is a shorthand name for the 25th meeting of the Conference of Parties to the UN Framework Convention on Climate Change (or the nations signed up to the Paris agreement).

After Paris was signed in 2015, nations were given five years in which to set out bolder climate action. Current targets expire in 2020. At next year’s November COP in Glasgow, nations will be asked to formally commit to higher targets. If Madrid does not successfully lay the groundwork for this, the Glasgow talks are likely to fail.


Read more: The most important issue facing Australia? New survey sees huge spike in concern over climate change


The United Nations says the world must reduce overall emissions by 7.6% every year over the next decade to have a high chance of staying under 1.5℃ warming this century.

The 1.5℃ limit is at the upper end of the Paris goal; warming beyond this is likely to lead to catastrophic impacts, including near-total destruction of the Great Barrier Reef.

Presently, emissions reduction targets of nations signed up to Paris put Earth on track for a 3.2℃ increase.

Coral bleaching will devastate the Great Barrier Reef if climate change is not curbed. KERRYN BELL

A global carbon market

Parties will debate the mechanism in the Paris agreement allowing emissions trading between nations, and via the private sector.

Such mechanisms could lower the global cost of climate mitigation, because emissions reduction in some nations is cheaper than in others. But there are concerns the trading regime may lack transparency and accountability.


Read more: Double counting of emissions cuts may undermine Paris climate deal


Among the risks are that emissions cuts are “double counted” - meaning both the buying and selling nation count the cuts towards their targets, undermining the aims of the agreement.

Help for vulnerable nations

Small island states say COP25 is the last chance to take decisive action on global emissions reduction.

Fossil fuel burning in the developing world is largely responsible for the carbon dioxide that drives global warming. Developing nations are particularly vulnerable to the loss and damage caused by climate change.

Parties will discuss whether an international mechanism designed to assess and compensate for such damage is effective.

Developing nations are expected to contribute to the Green Climate Fund to help poorer nations cope with and mitigate climate change. Some 27 nations contributed US$9.78 billion in the last funding round.

Some nations have indicated they will not contribute further, including Australia, which says it already helps Pacific nations through its overseas aid program.

Low-lying islands such as Tuvalu are particularly vulnerable to sea level rise caused by climate change. MICK TSIKAS/AAP

Arguments about cost

Nations opposed to adopting stronger emissions reduction targets often argue the costs of decarbonising energy sectors, and economies as a whole, are too high.

However, recent cost benefit analysis has found not taking action on climate change will be expensive in the long run.

Realisation is also growing that the cost of emissions reduction activities has been overestimated in the past. In Australia, prominent economist Ross Garnaut recently said huge falls in the cost of equipment for solar and wind energy has created massive economic opportunity, such as future manufacturing of zero-emission iron and aluminium.

The shift in the cost-balance means nations with low ambition will find it difficult to argue against climate mitigation on cost grounds.

A coal-fired power plant in Germany. Developing nations emit most CO2 in the atmosphere. SASCHA STEINBACH/EPA

Australia’s position at Madrid

At the Paris talks, Australia pledged emissions reduction of 26-28% by 2030, based on 2005 levels. The Morrison government has indicated it will not ramp up the goal.

About 68 nations said before COP25 they will set bolder emissions reduction targets, including Fiji, South Africa and New Zealand. This group is expected to exert pressure on laggard nations.

This pressure has already begun: France has reportedly insisted that a planned free trade deal between Australia and the European Union must include “highly ambitious” action on climate change.


Read more: A hot and dry Australian summer means heatwaves and fire risk ahead


The Climate Action Tracker says Australia is not contributing its fair share towards the global 1.5℃ commitment. Australia is also ranked among the worst performing G20 nations on climate action.

The Madrid conference takes place amid high public concern over climate change. Thousands of Australians took part in September’s climate strikes and the environment has reportedly surpassed healthcare, cost of living and the economy as the top public concern.

Climate change has already arrived in the form of more extreme weather and bushfires, water stress, sea level rise and more. These effects are a small taste of what is to come if negotiations in Madrid fail to deliver.

Johanna Nalau, Samid Suliman and Tim Cadman contributed to this article.

Robert Hales does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Authors: Robert Hales, Director Centre for Sustainable Enterprise, Griffith University

Read more http://theconversation.com/earth-has-a-couple-more-chances-to-avoid-catastrophic-climate-change-this-week-is-one-of-them-128120

Important Instructions for Australians Living in Camper Trailers

Living in a camper trailer offers Australians a unique way to embrace adventure and freedom while exploring the vast and beautiful landsca...

Maintaining Your Mini Digger: Tips for Longevity and Performance

If you're a proud owner or operator of a mini digger in Australia, you understand the importance of keeping your equipment in top-notch co...

Transform Your Business To Success: The Role Of Branding Agencies In Melbourne

In the bustling city of Melbourne, where every corner tells a story of innovation and creativity, the importance of branding cannot be o...

Revealing The Timeless Appeal Of Ladies' Bodysuits

Fashion has always been a canvas for self-expression, a realm where innovation and tradition intertwine to create garments that not only a...

What Is Crude Oil, and Why Is It Important to Investors?

Crude oil is the lifeblood of the global economy. As an investor, understanding the ins and outs of this vital commodity can be crucial to...

A Sweet Tooth's Guide to the Best Cakes in Melbourne

Indulge your sweet tooth in Melbourne's finest cakes! Brunetti offers decadent chocolate delights like Ciambella Chocolate Teacakes. Mel...

Alan Williams' Impact on Chicago's Defense: Analyzing Key Changes and Improvements

When Alan Williams stepped onto the field as the defensive coordinator for Chicago, expectations were high. His reputation for crafting di...

Understanding the Different Types of Pickup Truck Car Covers

Picking the right truck cover starts with understanding the various types available on the market. Each type is designed to address specif...

Understanding Commercial Plumbing in Adelaide

Introduction In the bustling city of Adelaide, where businesses thrive across diverse sectors, the seamless operation of commercial facil...

Driving into the Future: The Evolution of the Automotive Market in Australia - Trends and Predictions

Examining “the evolution of the automotive market in Australia: trends and predictions” reveals a swift embrace of electric vehicles a...

Crocs: Defying Fashion Norms and Redefining Individuality

In the realm of contemporary footwear, a singular item has emerged as a polarizing yet undeniably iconic choice: the versatile rubber shoe...

Benefits of Network Monitoring Devices in Businesses

In an era where seamless connectivity underpins business operations, ensuring a robust and secure network is paramount for any enterprise...

Tips for Staying Socially Active as a Senior

Staying socially active as a senior can be a challenging task. It becomes particularly difficult as mobility decreases, and friends and fa...

The Benefits of Living in Nature

Have you ever dreamed of buying a mountain property for sale, living immersed in nature, and being surrounded by the beauty of trees and w...

Affordable and Chic: A Guide to Stylish Splashback Tiling on a Budget

When it comes to kitchen renovations, splashback tiling stands out as a game-changer. Not only does it serve a practical purpose by protec...

How to Choose the Perfect Trailer for Your Needs

Whether you're hauling equipment for work or embarking on a weekend adventure, selecting the right trailer is essential. With a myriad of ...

Is There a downside to Taking collagen peptides? Understanding the Side Effects for a Healthier You

Introduction  Lately, everyone seems to be talking about collagen peptides. They're a type of protein that comes from collagen, a key pa...

The Best Materials for Living Room Plantation Shutters: A Comparison

Plantation shutters are a timeless and elegant window treatment that adds both style and functionality to any living space. When it comes ...

Top 5 Home Renovations That Increase Property Value

Enhancing the value of your property is a common goal for homeowners, whether they plan to sell soon or simply want to boost their investm...

Discover the Elegance of Sheer Curtains in Melbourne: A Guide to Custom-Made Sheer Elegance

When it comes to enhancing the aesthetics and functionality of your living spaces, the right choice of window treatments can make all the ...

Tomorrow Business Growth