Sharm El Sheikh-DOWN: UN report claims Global South needs $2.4 trillion a year to fight ‘climate change’
By: Admin - Climate DepotNovember 9, 2022 10:23 AM
UN report: Global South needs $2.4 trillion a year to fight climate change
Aljazeera, 8 November 2022
A trillion dollars of that should come from rich countries, investors and multilateral development banks, UN-backed report says.
Developing and emerging countries excluding China need investments well beyond $2 trillion annually by 2030 if the world is to stop the global warming juggernaut and cope with its effects, according to a United Nations-backed report.
A trillion dollars should come from rich countries, investors and multilateral development banks, said the analysis commissioned by Britain and Egypt, hosts respectively of the 2021 UN climate summit in Glasgow and this week’s COP27 event in Sharm el-Sheikh.
The rest of the money – about $1.4 trillion – must originate domestically from private and public sources, the report released on Tuesday said.
Current investments in emerging and developing economies other than China stand at about $500bn.
https://www.climatedepot.com/2022/11/09/sharm-el-sheikh-down-un-report-claims-global-south-needs-2-4-trillion-a-year-to-fight-climate-change/
