Thursday, December 4, 2008

Poor countries need help to fight climate change

Poor countries are helpless to fight climate change without the aid from rich countries. UN climate change organization calculated that poor countries will need about 130 billion dollars a year by 2030 in order to have any chance of successfully reducing carbon emissions and adapt to global warming.

Current fundings intended to help poor countries are not enough, and according to UN rich countries have to invest six times they are investing now in order to really make the difference. Current funds is somewhere around 20 billion dollars.

Additional problem is that majority of these funds are mostly oriented to develop clean (renewable) energy sector in these countries and only small share of available money is actually used to help countries adapt to changes that are coming with global warming. This politic will have to change very soon because development of renewable technologies takes long time, and global warming is not kind enough to wait their installation and development. Financial crisis, if continues, will also slow down increase of funds intended to poor countries, because rich countries will first try to stabilize their financial markets.

Hopefully this time rich ones will not forget the poor ones like they usually do.

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