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CIG: Developing nations climate change impact to cost 100 bn annually.

New World Bank study predicts managing climate in the developing world will be onerous.

FOR IMMEDIATE RELEASE

PRLog (Press Release) - Oct 11, 2009 -
The World Bank presented preliminary findings of a recent global study at the UN climate talks in Bangkok, late last week.
The figures work on an estimate that temperatures are likely to rise by 2C in the next 40 years, CIG understands.
The present talks ahead of Copenhagen in December are in part focusing on what the cost of global warming will be to developing nations, how this will be financed and where the money should come from.


Primary costs would come from upgrading coastal protection and protecting transport links, according to the bank.
The figures are more accurate than preceding estimates by UN agencies and development charities.


"One of the ways our analysis differs is that it's the first to establish a baseline that includes economic growth," a bank spokesperson told sources known to CIG.

The bank found that costs would vary according to rainfall in a world that has warmed 2C from pre-industrial times, with wetter conditions meaning a higher overall price tag.


With Climate Exchanges presently being established in all major global spheres, carbon credit trading, a system where companies and nations producing less Co2 emissions than what they have been allocated, would be able to trade or sell their remaining emission quotas, or credits. This has been widely seen as an option for developing nations to offset the costs of their climate change programs, CIG research suggests.


Also developing nations argue that as western nations grew wealthy largely through burning fossil fuels, it is therefore their duty to finance protection around the world.
The principle is agreed to by some developed countries, and a range of schemes are on the table.

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CIG, is an exclusive, members only, off shore, private equity investment firm that provides consulting services to like minded members of the private equity and alternative investment community.

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Source:CIG LLC
City/Town:Manhattan
State/Province:New York
Country:United States
Industry:Banking, Environment, Finance
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Last Updated:Oct 11, 2009
Shortcut:http://prlog.org/10371743
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