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Assessing The Alternatives: Financing climate change mitigation and adaptation in developing countries

4 pages

A report for Stamp Out Poverty by Dr Stephen Spratt of the new economics foundation The impacts of climate change are already being felt by some of the poorest people in the world - those least responsible for causing global warming. The costs of helping these vulnerable people in developing countries adapt to climate change, and the costs of mitigating future emissions as these countries develop will run into tens, if not hundreds, of billions of dollars each year. But where will the money come from? Answering that question is the purpose of a new report from Stamp Out Poverty, written by the new economics foundation and supported by Oxfam GB. This is one of the principal challenges in the run-up to the United Nations Climate Change Conference in Copenhagen in December, 2009. Without a solution to how the massive costs of climate change will be met, meaningful progress will not be possible. Whilst the report concludes with the recommendation of a portfolio of mechanisms to raise substantial revenue, as important is its articulation of clear principles and criteria upon which current and future proposals can be assessed.

KeywordsClimate finance Climate change adaptation