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World Bank: Climate Change Controls With Immediate Effect Sustains Growth
According to a report by BBC News, the bank's World Development Report (WDR) urges a rapid scaling-up of spending on clean energy research and protection for poorer countries.
Even a warming of 2 degree Celsius - the G8's target - could reduce GDP in poor nations, the report concludes.
The bank urges governments to conclude an "equitable deal" at December's UN climate summit in Copenhagen.
That "equitable deal" should involve industrialized countries paying for the damage that their historical emissions have caused and will cause in poorer parts of the world, it suggests.
"Developing countries are disproportionately affected by climate change - a crisis that is not of their making and for which they are the least prepared," said World Bank president Robert Zoellick.
"For that reason, an equitable deal in Copenhagen is vitally important," he added.
Part of that deal, according to the report, involves industrialized countries making rapid cuts in their greenhouse gas output, creating "emissions space" to allow for rising fossil fuel use in poorer societies.
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