German scientists endorse a global climate bank.

German government advisers have proposed a new approach to pay for global reductions in greenhouse gas emissions: a global climate bank. Under the proposal, the bank would regulate each country's allowable emissions quota and a global emissions trading system. Countries that exceed their "carbon budgets," based on 2010 populations, would be required to buy excess allowances from the world's least-developed countries via the bank.

The most important measurement of a climate agreement's success, the German Advisory Council on Global Change said, is whether global emissions can be limited to 750 billion tons of carbon dioxide total by 2050, the maximum allowable if warming is not to exceed 2 degrees C. The goal could be achieved by limiting industrialized countries' average annual per-capita emissions to 2.7 tons of carbon dioxide over the period, with annual per-capita emissions declining to 1 ton of carbon dioxide by 2050, assuming that the 95 least-developed nations avoided substantial emissions increases during the next 40 years.

The most energy-intensive nations would need to purchase emission allowances to remain within their carbon budgets. Currently, the average U.S. citizen emits about 20 tons of carbon dioxide annually and the average Chinese releases 4 tons. Most countries in sub-Saharan Africa emit less than 1 ton per person per year.

Top Seven [CO.sub.2] Emitting Countries in 2006

Country        Total [CO.sub.2] Emissions  [CO.sub.2] Emissions Per
                                                    Capita

                  (million metric tons)             (tons)

China                      6,018                     4.58
United States              5,903                    19.78
Russia                     1,704                    12.00
India                      1,293                     1.16
Japan                      1,247                     9.78
Germany                      858                    10.40
Canada                       614                    18.81

Source: EIA.