Stunned at CO2 Reduction Analysis, Germany Calls for 'World Climate Bank'

A new German study reveals that the country must halve its CO2 output, compared to current levels by 2020 and cut emissions to zero by 2030, if it remains committed to reaching the internationally agreed target of limiting global warming to 2 degrees Celsius (3.6 degrees Fahrenheit) above pre-industrial levels.

The WBGU scientists estimate that no more than 750 billion tons of CO2 can be emitted by all countries collectively between now and 2050 if there is to be a 67 percent chance of the 2-degree goal being met. The target was set at July’s G-8 summit in the Italian town of L’Aquila, where leading developed nations discussed measures to limit the effects of global warming.

To maintain the effort of realistically reducing the total global CO2 emissions, German climatologists are pushing for the creation of a “world climate bank” in which industrialized nations purchase emission rights from less developed countries. via Spiegel Online