World Bank: Emerging economies can cut emissions by 70 percent with 1.4 percent of GDP

Investments averaging 1.4 percent of gross domestic product (GDP) per year could reduce emissions in emerging and developing countries by up to 70 percent by 2050, while increasing the resilience of their economies. That’s the finding of »Climate and Development: An Agenda for Action,« an analysis released by the World Bank on Nov. 3. Reports from more than 20 countries were evaluated, including China, Turkey, South Africa, Vietnam and Argentina, as well as countries such as Burkina Faso, Mali and Nepal. Together, these countries are responsible for one-third of global greenhouse gas emissions.
The World Bank assigns a special responsibility to the rich countries. They must lead the way with deeper and faster decarbonization as well as stronger financial support for poorer countries, according to the analysis.
© PHOTON