Climate Change Mitigation

The world needs to spend a massive USD5 trillion a year on infrastructure to keep up with transport, energy and water needs, says a coalition of institutions including the OECD and World Bank. That’s equivalent to the combined GDPs of the France and the UK, each and every year. But finding the cash isn’t the only challenge, warn the authors of the report Green Investment, who presented their findings at the World Economic Forum meeting in Davos – the world`s largest annual jamboree for business and politicians — last week.

China will offer training programs on climate change to 1,000 officials and technicians from developing countries from 2012 to 2014, a Chinese official told Xinhua in Beijing yesterday.

With the help of a new online portal launched by the UN climate secretariat (UNFCCC), the efforts by developed countries to financially support developing countries to reduce emissions and adapt to the climate change have been made more visible and transparent.

The Japanese government has signed an agreement to provide about 62.3 billion yen (USD809 million) in new climate aid to Indonesia, one of the biggest emitters in the developing world, according to a report in Reuters.

The Asian Development Bank (ADB) is investing USD60 million to help set up three venture capital funds, and hoping it can leverage an additional USD600 million from the private sector, lured by the funds' dedicated to nurturing new climate change technologies.