$600b needed for climate change, UN says

September 02, 2009|Associated Press

GENEVA - Developing countries need between $500 billion and $600 billion a year from rich nations to adapt to climate change and make sure their economies grow, a United Nations report concluded yesterday.

Poor nations need to join in the fight against climate change, but they will do so only if their economies are growing. That means getting massive help now from rich countries so poor nations can use clean energy for their new industries, according to the UN’s World Economic and Social Survey 2009.

If developing countries simply grow the same way industrialized countries did, this will have a “devastating’’ impact on the earth’s climate, the 207-page report stated.

Richard Kozul-Wright, report author, said he calculated that a half-trillion dollar investment is needed immediately so poor countries can switch to clean-energy production that won’t add greenhouse gases to the atmosphere.

The money will also cover switching to the low-energy buildings and drought-resistant crops needed to withstand climate changes already coming from previous carbon emissions, the report said.

“Developing countries can’t be left alone to do it by themselves,’’ said Kozul-Wright, calling the estimated $21 billion in development aid spent on climate change every year “woefully inadequate.’’

His estimate of $500 billion to $600 billion annually would be around 1 percent of the world’s GDP per year and would allow them to switch to economies with low carbon emissions while maintaining growth, said Kozul-Wright.