Science » Planet Earth
Author`s name Timothy Bancroft-Hinchey

Climate Change: Developing countries need $100 bn. a year, every year

As the UN Climate Conference gets under way in Cancun Mexico, the real crux of the matter lies, as usual, in the bottom line: how much it is going to cost. The answer is around one hundred billion USD a year, every year, for the developing countries. The UNO has therefore set up a website to inform countries about what financing is available.

The result is the Climate Finance Options website* developed by the United Nations Development Programme, the UN Framework Convention on Climate Change and the World Bank Group. Veerle Vandeweerd, Director of UNDP Environment and Energy Group, states: "For climate assistance to be most effective, it is critical for countries to access, sequence and effectively integrate climate finance sources at the national level".

Warren Evans, World Bank Environment Department Director, considers that "Developing countries need access to information on potential sources of finance, inspiring best practice examples, research results and tools for better investment decision making".

The platform created provides guidance on options available for financing initiatives on climate action in developing countries, supplying information on where the funds are and how they can be accessed, how the funds are governed and data as to the eligibility of the project. Apart from this, the site has a space where users can share their experiences with others and make comments on ongoing processes and projects.

By providing information as to what is available, where it is, the criteria needed to access the financing funds and feedback from peers, it is hoped that the process to set up projects to combat climate change will be optimised.

Timothy Bancroft-Hinchey