By Jutta Wolf | IDN-InDepth NewsAnalysis
BONN (IDN) – A huge amount of some 5.7 trillion US dollar – 5,700,000,000,000 – is required yearly to build a green infrastructure by 2020 in order to limit global temperature rise to 2 degrees C, a new report by the World Economic Forum (WEF) estimates.
Developing countries in particular are in pressing need of adequate funds to limit or reduce their greenhouse gas emissions and adapt to the impacts of climate change. The Green Climate Fund (GCF) plays an important role in providing the necessary funding. Continued warming from the release of greenhouse gases (GHGs) into the atmosphere is projected to have substantial adverse impacts on the environment, human health and the economy.