The United Nations called here Monday for more investment and funds to address climate changes and reduce greenhouse gas emissions.
In a report presented to a preparation meeting for the UN climate change summit slated to be held in Bali of Indonesia in December, the secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) said additional investment and financial flows of 200 to 210 billion U.S. dollars will be needed each year by 2030 in order to maintain greenhouse gas emissions at current levels.
The UN climate change watchdog said the developing countries need a large share of investment and financial flows because of their expected rapid economic growth.
"If the funding available ... remains at its current level and continues to rely mainly on voluntary contributions, it will not be sufficient," the report warns.
On Monday, more than 1,000 delegates from over 100 countries gathered in the Austrian capital for the preparation meeting for the UN climate change summit in Bali, which will focus on the financial and economic aspects of battling climate change.
Source: Xinhua
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