Extreme weather costs China billions each year. Droughts, floods and other weather disasters stunt China's economy by up to 6 percent every year, the country's chief meteorologist said on Thursday, warning of the potential costs of global warming for the Asian boom economy. [News Source]

Australia suffers worst drought in 1,000 years. Australia's blistering summer has only just begun but reservoir levels are dropping fast, crop forecasts have been slashed, and great swaths of the continent are experiencing drought conditions. [News Source]

UN talks split on date for climate fight rules. A UN conference working to fix long-term rules to fight global warming beyond 2012 "as soon as possible" was split on Tuesday over whether that meant an accord should be struck in 2008, 2009 or even 2010. [News Source]

Counting on capitalism to save the planet.

An emissions-trading system will be the centrepiece of California’s effort to implement its global warming strategy.

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]

Climate change (OECD Observer) The Kyoto Protocol will be implemented in mid-February, while the size of the challenge presented by climate change is becoming more daunting than expected. Yet, basic steps could be taken that will not only tackle the effects of global warming, but promote development as well. [News Source]