Thursday, February 09, 2006

Poor Nations Need Billions to Fight Climate Change

From the World Environment News team at Planet Ark comes this item about the costs of reducing emissions of green house gases in relation to current energy spending in the developing world.

Sir Nicholas Stern, Head of the UK Government's Economic Service and leader of the UK Review of the Economics of Climate Change said last Friday that the developing world needed to spend at least $40 billion more every year to fight climate change.

Stern, speaking on the sidelines of a conference in New Delhi of world environmentalists, scientists and policymakers discussing sustainable development, said the $40 billion was less than developing governments are already spending on energy.

Major developing nations such as India, China, Mexico and Indonesia, rely heavily on fossil fuels to power their rapidly growing economies. "...it would be far cheaper if they invest[ed] in cleaner technologies," he said.

More information on the Stern Review of the Economics of Climate Change can be found here.

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John Cockaday