The World Bank has determined that climate change will be a serious barrier to growth in poorer nations and must be curbed now.
The world's financial reservoir, the World Bank, has determined that climate change is a serious barrier to growth in poorer nations. Unless, that is, it is cubed immediately.
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.
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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.
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"For that reason, an equitable deal in Copenhagen is vitally important," he added.
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The acceptance of "historical responsibility" found resonance among organisations that campaign for the relief of developing world poverty.
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The report concludes that policy "cannot be framed as a choice between growth and climate change".
In fact, it says, "climate-smart policies are those that enhance development, reduce vulnerability and finance the transition to low-carbon economic growth".
The bank notes that some developing countries' outlay on coping with weather emergencies is already rising.
Poor countries in Africa and Asia could see their GDP fall by about 5 percent under a global warming of 2C.
"Grappling with climate shocks that are already hampering development will not be easy," said Rosina Bierbaum, co-director of the WDR and dean of the University of Michigan's School of Natural Resources and Environment.
"But promising new energy technologies can vastly reduce future greenhouse gas emissions and prevent catastrophic climate change," she added.
Source-ANI
TAN
