About My Health Careers Internship MedBlogs Contact us

World Bank: Climate Change Controls With Immediate Effect Sustains Growth

by Tanya Thomas on September 19, 2009 at 8:39 AM
Font : A-A+

 World Bank: Climate Change Controls With Immediate Effect Sustains Growth

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.


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.

The acceptance of "historical responsibility" found resonance among organisations that campaign for the relief of developing world poverty.

"A broad coalition from Bolivian President Evo Morales to the World Bank is united in saying that past emissions matter, and that rich countries have to confront this rather than avoid it," noted Tom Sherman, head of climate change with the charity ActionAid.

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

News A-Z
News Category
What's New on Medindia
First Dose of COVID-19 Vaccines May Improve Mental Health
Printed Temperature Sensors help with Continuous Temperature Monitoring
Health Benefits of Giloy
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Health Effects of Global Warming Global Warming 

Recommended Reading
God Alone can Save Us from Global Warming, Says Atheist Scientist
One of Britain's most eminent scientists, who is an atheist, has said that the world may have to ......
Preserving The Ecosystem Key To Reversing Climate Change
A new research has determined that investing in restoration and maintenance of the Earth's .....
Climate Change - Weatherman In the Hotseat
Familiar faces and voices took to the stage at the World Climate Conference over the past week as .....
Maldives Aims for Action Behind Words on Climate Change
White sand and crystal clear water that laps around the Maldives draw thousands to the islands ......
Health Effects of Global Warming
Greenhouse effect causes excessive heat to build up in the earth’s atmosphere causing global warming...

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use