BANGKOK, Sept. 30 (Xinhua) -- A new global estimate released Wednesday by World Bank sees that 75 billion to 100 billion U.S. dollars will be necessary to cover the cost for developing countries to adapt to climate change per year for the period 2010 to 2050.
If the developing countries maintain their current economic growth rates, and the global temperature increase is controlled below 2 Celsius degrees -- hopefully-- by 2050, the annual total cost for them to adapt the impact of climate change could be, depending on the alternative scenarios of "Dry" or "Wet" in the study, around 75 billion or 100 billion dollars, said J. Warren Evans, Director Environment Department of the World Bank, who host a press conference at the sidelines of the ongoing UN Climate Change Talks here.
The understanding and research on cost of the adaptation to the climate change is very weak, compared with the mitigation cost, Evans said, adding that taking action in favor of adaptation now can result in future savings and reduce unacceptable risks.
The report roused more voices that urge the earlier set-up of a sound financing mechanism to deal with climate change issue, as this year's fourth round of UN Climate Change Talks goes on here.
The negotiations, from 28th Sept. to 9th Oct. is the latest round of a series of talks that will lead to the UN Climate Change Conference in December in Copenhagen.
The costs for developing countries to adapt to the climate change can still be borne by the international community, to judge by the GDPs of rich countries, but for poor countries they are unacceptably high, said Bert Koenders, Dutch Minister for Development Cooperation in a statement released by World Bank Wednesday.
Bert said that more than ever, mitigation, adaptation and development cooperation are needed to make the poor less vulnerable to climate change. International public financial support for adaptation in the poorest developing countries should be new and additional, so as not to jeopardize the Millennium Development Goals, he said.
The study, The Economics of Adaptation to Climate Change (EACC), funded by the governments of the Netherlands, Switzerland, and the United Kingdom, is so far the most in-depth analysis of the economics of adaptation to climate change to date and uses a new methodology for assessing these costs.
The new approach involves comparing a future world without climate change with a future world with climate change. The difference between these two worlds entails a series of actions to adapt to the new world conditions. The costs of these additional actions are the costs of adapting to climate change.
According to the statement, the study has two broad objectives. The first is to develop an estimate of the global costs of adaptation in developing countries. The second is to help decision makers in developing countries to better understand and assess the risks posed by climate change and to better design strategies to adapt to climate change, particularly keeping the most vulnerable communities in focus.
A second report, based on seven country case studies, will be produced by spring 2010, focusing on the second objective, the statement said.
About 4,000 international delegates, including officials from 177 countries, business and industry representatives, and NGO volunteers, attend the 12-day climate change talks in Bangkok, with the goal to narrow down the 200-page draft agreement for Copenhagen to something more manageable. Along the way, the negotiations also hope to close the gap between rich and poor positions and come close to agreement on such issues as reducing deforestation and sharing climate-friendly technology.