A “modest” investment would be enough to reduce 70% of the emissions of developing countries

A simple push. In a report published this Thursday, the World Bank defends the idea of ​​an accessible energy transition for the poorest and emerging countries: an annual investment of 1.4% of their GDP would be enough, in 2050, to eliminate 70% of their greenhouse gas emissions

These data are the result of individual reports made in twenty countries, which represent a quarter of the world’s wealth and 34% of global greenhouse gas emissions. Among them are China, Egypt and Argentina, but also Niger, Chad and Malawi.

However, the necessary budgetary effort varies according to the level of wealth, since it can exceed 5% of national wealth in the case of the poorest countries. Therefore, these countries need greater financial support to achieve this goal, but also to prepare for the effects of global warming, underlines the international institution.

Climate compensation on the menu in Sharm el-Sheikh

The institution published this compilation a few days before the opening of the COP27, in Sharm el-Sheikh, Egypt, during which the issue of compensation for the poor countries most affected by the consequences of global warming will be one of the key discussions of the meetings.

The report also recalls the “significant and disproportionate impact” of global warming on poverty and economic opportunity, “especially for the most vulnerable members of society.”