The World Bank’s annual World Development Report, issued Tuesday, Sept. 15, 2009, defines its clearest warning to date that the development efforts of poor countries will be derailed, without a “huge increase in funding for climage change mitigation and adaptation efforts.” via Guardian UK
Even if the G8 countries countries achieves their target of limiting global warming to two degrees above pre-industrial levels (which is dubious, based on new G8 assessments of the challenge), developing countries will suffer.
The politics are ‘charged’ in advance of the upcoming UN climate change conference in Copenhagen, with World Bank president Robert Zoellick, echoing the view that industrial countries must deliver an “equitable deal” to developing countries.
Justin Lin, World Bank chief economist, warned that without increased investment from developed economies poorer nations would find themselves unable to cope with the impacts of climate change. “Developing countries, which have historically contributed little to global warming, are now, ironically, faced with 75 to 80 per cent of the potential damage from it,” he said. “They need help to cope with climate change, as they are preoccupied with existing challenges such as reducing poverty and hunger and providing access to energy and water.” via Guardian UK