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Developing nations need $170 b to mitigate climate change

The World Bank said on Tuesday at the ongoing Accra Climate Change Talks in Ghana that a total of $170 b was required between now and 2030 to enable developing countries mitigate and adapt to the impact of climate change.

According to the official News Agency of Nigeria, Eduardo Dopazo, World Bank fund manager of Carbon Finance Unit, told newsmen on the sidelines of the Accra Talks that private sector was expected to account for 80 per cent of the sum.

He said the huge financing gap for developing countries to contain the impact of climate change was beyond current funding under the U.N. Framework Convention on Climate Change. According to him, developing countries would also require $85 b to provide electricity that would cover 100 per cent of their citizens by 2030.

An additional $35b a year would be needed to ensure utilisation of green energy technologies.

Mr. Dopazo said within the same period, developing countries would require massive technology transfer, capacity building and technical assistance to manage whatever green technology is adopted.

He said the situation would require that developing countries take commitments under the post Kyoto protocol treaty expected to be ratified at Copenhagen in 2009. — Xinhua

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