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Climate change hits poor countries hard: World Bank
Source: The Times of India, New Delhi, Date: , 2009
The developing world will suffer about 80% of the damage from climate change
despite accounting for only around a third of greenhouse gases in the
atmosphere, the World Bank said on Sunday. “The damage of climate change, about
75 to 80%, will be suffered by developing countries although they only
contribute about one third of greenhouse gases,” World Bank chief economist
Justin Lin told reporters. Lin spoke in Istanbul, host city of the World Bank
and International Monetary Fund (IMF) meetings this year, at the presentation
of the World Bank’s new development report for 2010 entitled “Development and
Climate Change.” “Climate change is an urgent issue and the needs are enormous
and we are waiting and hoping to see an international agreement in Copenhagen,”
Lin said, referring to UN-sponsored talks in December aimed at curbing global
warming. Marianne Fay, the World Bank’s chief economist for sustainable
development, said the costs of mitigating and adapting to climate change would
add up to around $300 billion dollars a year from 2030. Following the release
of the World Bank report, Caroline Pearce, policy advisor to international aid
agency Oxfam, said that developed countries “are leading the world into a
disastrous future.”
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