Rising greenhouse-gas emissions pose significant risks to society and ecosystems. Since most of these emissions are energy-related, any integrated approach to meeting the world’s growing energy needs over the coming decades must incorporate strategies to address the risk of climate change. This section provides an overview of recent findings, with a focus on studies of international policy aimed at controlling long-term climate risks. Implementing climate policies such as these would have a dramatic effect on energy investment – and energy costs – over the coming decades.
The Fourth Assessment Report (AR4) of the Intergovernmental Panel on Climate Change (IPCC 2007) provides an update of scientific understanding regarding GHG emissions, global warming and the risks of climate change, and the way changes could unfold in the future.
Stabilization poses a significant challenge, especially for CO2, the most significant of the GHGs emitted by human activities.
There is growing recognition that addressing the risk of climate change will require significant efforts by both the developed and the developing world.
There has been extensive international focus on the costs and benefits of policies to reduce GHG emissions and address the risk of climate change.
Keeping in mind the central importance of energy to economies of the world, ExxonMobil believes that it is prudent to develop and implement strategies that address the risks to society associated with increasing greenhouse gas emissions.
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