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The accord also fails to offer ways of closing loopholes in existing emissions controls under the Kyoto protocol. For instance, it does not address rising emissions from aircraft and shipping, which are not covered by the protocol. Nor does it limit future sales of spare emissions permits held by many eastern European nations – so-called "hot air". Expectation had been high that both loopholes would be closed by agreements in Copenhagen.
Schaeffer and his colleague Niklas Hoehne of the climate consultancy ECOFYS told New Scientist that the loopholes could allow developed nations to carry on increasing their emissions until 2020. The finding is in line with those of a similar study given to New Scientist by WWF earlier this week.
With no new commitments on the table, and loopholes still wide open, Schaeffer and colleagues find that the world is on track to warm by 3.5 ºC by 2100, and concentrations of carbon dioxide are set to rise to around 700 parts per million – far above the 450 ppm scientists say constitute the limit for keeping global warming below 2 ºC.
‘Should have done better'
The text is a significant setback from where talks stood on Friday. Earlier drafts of the text, circulated during Friday, had stipulated that countries should ensure a 50 per cent cut in global greenhouse gas emissions, with 80 per cent cuts by developed nations. Scientists have warned cuts on this scale are necessary to meet the aim of curtailing warming below two degrees.
Both targets disappeared in the final version.Ed. - emphasis added.
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http://www.newscientist.com/article/dn18309-copenhagen-chaos-sets-world-on-track-for-35-c.html