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Financing the Climate Mitigation and Adaptation Measures in Developing Countries

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  • Frank Ackerman

Abstract

The threat of climate change requires a rapid transition to a new, low-carbon style of economic development. How will the transition be financed? Most of the global potential for emission reduction is located in developing countries. Achieving this potential, plus adaptation to climate damages, will cost hundreds of billions of dollars per year. Existing climate funding amounts to less than $15 billion annually, mostly through CDM – far less than is needed. A new climate funding agreement could build on the lessons of the Montreal Protocol for reduction of ozone-depleting substances, a successful case of international environmental cooperation.

Suggested Citation

  • Frank Ackerman, 2009. "Financing the Climate Mitigation and Adaptation Measures in Developing Countries," G-24 Discussion Papers 57, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:g24pap:57
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    File URL: https://unctad.org/system/files/official-document/gdsmdpg2420094_en.pdf
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    References listed on IDEAS

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    Cited by:

    1. Elizabeth A. Stanton & Frank Ackerman, 2009. "Climate and development economics: Balancing science, politics and equity," Natural Resources Forum, Blackwell Publishing, vol. 33(4), pages 262-273, November.
    2. Innocent Chirisa & Trynos Gumbo & Veronica N. Gundu-Jakarasi & Washington Zhakata & Thomas Karakadzai & Romeo Dipura & Thembani Moyo, 2021. "Interrogating Climate Adaptation Financing in Zimbabwe: Proposed Direction," Sustainability, MDPI, vol. 13(12), pages 1-20, June.

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