The Stern Review estimates that confronting climate change will cost about 1 percent of gross world product. Financing mitigation and adaptation will require additional investment, as well as a redirection of existing capital flows. This should included increased assistance to developing nations to promote clean energy technologies and greater energy efficiency.
7.1 Net North-South Flows: The net public and private resource flows from all developed countries to developing countries (including loans) amounted to about US$ 280 billion in 2005, increasing from about $150 billion in 2004 (see Figure 3 below). The increase came mainly because of an increase in private flows, which besides being fickle are concentrated in just a few countries. Development Assistance (ODA) amounted to just 0.25% of gross national income in 2005 (see Figure 4 below).
Figure 3: Total net flows by type of flow
7.2 Energy-Related North-South Flows: Most of the resources for energy development (~60%) are raised locally within developing countries. Energy-related flows (see Table 2 below) have averaged about $7 billion a year between 1997 and 2005. This amount contrasts with a need of ~$300 billion a year in developing and transition economies, as estimated by the IEA. According to the World Bank, this sum of $300 billion would need to be augmented by $34 billion a year to support “green” energy development. The Stern Review similarly estimates the incremental amount at ~$20-30 billion per year. Some of these funds could also finance the transfer of technology.
Table 3 makes an attempt to summarize the order of magnitude numbers for the activities that require both a re-direction of existing flows and additional flows. The sum is a manageable amount, as the Stern Review suggested, but by no means insignificant.
Questions for GLCA:
-What are the prospects for a new global fund for mitigation and adaptation to climate change, such as the International Finance Facility (IFF)?
-How should incentives be designed for increasing private sector investments?
Table 3: Categories of expenditures required for an effective global response to
Obama acts alone on climate
Nature: The collapse of legislation to reduce US greenhouse-gas emissions was one of the most significant failures of President Barack Obama?s first term in office. Halfway through his second, in the face of an entrenched Republican majority on Capitol Hill, Obama is now trying to build an environmental legacy through actions that he can take without congressional approval.
?Over the past six years, we?ve done more than ever to combat climate change, from the way we produce energy to the way we use it,?...
Blizzard slams Boston area, spares New York despite predictions
Reuters: A powerful blizzard struck Boston and surrounding New England on Tuesday, leaving some 4.5 million people grappling with as much as three feet of snow and coastal flooding but sparing New York City residents who had braced for a significant blast. Snow was forecast to keep falling into early Wednesday in eastern New England, possibly setting a record snowfall in Boston. At Logan International Airport, 23.3 inches (59.2 cm) of snow was on the ground early evening, swept higher in parts by strong...
Pollution may damage polar bear penile bones
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Well, our pollutants are hurting their penises, that is.
Christian Sonne, professor in Veterinary Ecotoxicology and Wildlife Health at Aarhus University in Denmark, and his team connected high levels of polychlorinated biphenyls (PCBs) with low baculum (penile bone) density. PCBs were used for...
Decline of Early Mesoamericans Due Climate Change
Nature World: The drastic decline of a group of early Mesoamericans from the region around Canton was due, at least in part, to climate change, according to a new study.
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Described in the journal Proceedings of the National Academy of Sciences, researchers...
No US-India deal on climate change
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The world's largest carbon emitter, China, announced for the first time that its emissions would peak by 2030.
The second biggest polluter, the US, said it would cut carbon emissions by 26%-28% by 2025 compared with 2005 levels.
All eyes were then on the third largest carbon emitter, India, for a similar commitment that could set the stage...
Why bigger snowstorms come with global warming
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Reuters: Rick Perry's farewell speech to the Texas legislature listed the accomplishments expected from an outgoing Republican governor of the country's largest oil-producing state. But his Jan. 15 speech also did something less predictable: touting his environmental record, from lowering Texas' carbon emissions to turning the state into a global leader in wind energy production.
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But seriously, folks ? this stand-up economist says Republicans will like his carbon tax
Grist: Economics has long been nicknamed the dismal science, and climate economics can really pile on the gloom and doom. Basically, when individuals act rationally and self-interestedly, in an unrestrained market economy, we pollute the planet to the gills and poor people bear the brunt of the ill effects. Case in point: Earth, right now.
Yoram Bauman, the world?s first and only stand-up economist, likes to inject some lolz into grim climate economics (kind of like Grist). He`s a climate hawk, policy...