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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: aknahow who wrote (49883)	4/19/2006 5:26:47 PM
From: shades	Respond to of 116555

UK's Brown Urges Global Effort To Tackle Climate Change . LONDON (Dow Jones)--U.K. Chancellor of the Exchequer Gordon Brown will Thursday call for global cooperation to tackle climate change and other threats to the environment, arguing such action is compatible with global economic growth. In his first major speech on the environment, to be given at the U.N., Brown will call for measures such as a global carbon trading system to reduce greenhouse gas emissions and more investment spending on efficient energy technology. Signaling his conversion to the green cause, Brown will draw on statistics showing that a global temperature rise of 2.5 degrees Celsius could take 2.5% of global gross domestic product. "Failure to act on the environment will put at risk future economic activity and growth," Brown will say, according to the text of remarks released to journalists ahead of the speech. "Far from being at odds with each other, economic and environmental ambitions reinforce each other." The chancellor will call for a "progressive consensus," combining sustainable economic growth with social justice and environmental care. And he will argue that current high global energy prices mean it is in the best interest of companies and countries to seek alternative energy sources. However, Brown's released remarks do not contain any reference to the use of nuclear energy, currently a hot topic of discussion in the U.K. Brown's speech is the latest evidence that he is reaching beyond the traditional finance-centered role of chancellor as he prepares to succeed Tony Blair as U.K. Prime Minister. Blair is set to step down in the next two to three years, but that time frame could be brought forward if the ruling Labour Party performs poorly in local elections next month. Brown's use of the international stage to enhance his green credentials is also an indirect snub to opposition Conservative leader David Cameron, who has sought to redefine his party as environmentally friendly since taking on his role last December. After delivering his speech, Brown will travel to Washington for the spring meetings of the International Monetary Fund and World Bank this weekend. -By Andrew Peaple, Dow Jones Newswires; +44 207 842 9270; andrew.peaple@dowjones.com (END) Dow Jones Newswires April 19, 2006 17:00 ET (21:00 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 05 00 PM EDT 04-19-06