Climate Investment Unburdened by Budgets

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climate crisis

Guardian

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‘It is feasible’: climate finance won’t burden rich countries, say economists

Summary

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74% Informative

Research suggests $ 1tn a year in climate finance to the poor world will be needed by 2030 to meet the core goal of the Paris agreement, to limit global heating to 1.5C above preindustrial levels.

The governments of nearly 200 countries are wrangling over how to channel the funds needed to help poor nations cut their greenhouse gas emissions and cope with the impacts of extreme weather.

Economists said recruiting the private sector to build green infrastructure made sense.

Recruiting green infrastructure such as wind and solar farms, electric vehicles, low-carbon transport and other amenities made sense, as these were activities that turned a profit and were able to attract investment.

But it seems unlikely that developed countries will stump up such sums.

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semi-formal

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English

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