The UN just released a report that calls for an integrated strategy to address climate change while promoting sustainable development. The plan from the UN’s Department of Economic and Social Affairs (DESA) calls for a $500 Billion yearly investment, roughly 1 percent of world gross product (WGP), to mitigate and adapt to climate change. The report warns that the current course could have dramatic worldwide economic impacts to the tune of 20 percent WGP, making action now a compelling long-term option for worldwide economic stability.
The report outlines the discrepancies between the developed and developing world, emphasizing that advanced countries have contributed as much as 75% of emission increases since 1950 despite the fact that they account for less than 15% of the world’s population. Poorer nations stand to lose the most from the impacts of climate change, with more severe droughts and more intense precipitation dramatically impacting food and water supplies.
The report outlines a balancing act regarding development and economic growth, stating that tackling the climate change problem can only happen if poorer countries can sustain rapid economic growth. Economic growth and reduction of poverty are seen as the only means for a transformation that would require the deployment of advanced technology and significant infrastructure investments.
This report comes just three months prior to the Copenhagen Climate Change Conference where countries will come together to forge a new global plan to address climate change. The way forward that is outlined here emphasizes considerable global action rather than simply emission cuts and market-based solutions. The transformation that is called for requires addressing global inequality.
The full report titled, “The World Economic and Social Survey 2009: Promoting Development, Saving the Planet,” can be found online here.
