UN: Massive investment needed to combat climate change

Investment of more than 200 billion dollars will be needed by 2030 just to keep greenhouse gas emissions at today’s levels, according to a UN climate change report. Global additional investment and financial flows of 200-210 billion dollars (146.3-153.7 billion euros) will be necessary in 2030 to return global greenhouse gas emission to current levels, according to the report by the United Nations Framework Convention on Climate Change (UNFCCC). Presenting the report, UNFCCC Executive Secretary Yvo de Boer told reporters that finding ”an economic answer” was key to dealing with the peril of climate change. Between 0.3 and 0.5 percent of global gross domestic product and between 1.1 and 1.7 percent of global investment will have to be spent on addressing climate change, the report estimated. http://unfccc.int/cooperation_and_support/financial_mechanism/items/4053.php