Adapting financial investments in response to climate change can become a real opportunity for developing countries, but governments had to provide incentives for investors, DPA quoted the United Nations climate change body as saying on Tuesday. "We will only be able to define long-term measures against climate change if we define it within economic parametres," UN Framework Convention on Climate Change (UNFCCC) head Yvo de Boer told journalists. De Boer was speaking during the presentation of a study examining investment and financial flows to cut emissions at a meeting of the 191 members of the UNFCCC in Vienna. The gathering heard that an effective response to climate change by 2030 would require additional investment of sums ranging from 1.1 to 1.7 per cent of global investment. Investment and financial flows of an additional 200 to 210 billion dollars will, meanwhile be necessary in 2030 to return green house gases to current levels. A large part of the investment would be required by developing countries, providing the opportunity for highly cost-effective mitigation, de Boer said. Emission reductions achieved by developing countries in 2030 would amount to 68 per cent, while only requiring 46 per cent of global investment. De Boer praised the carbon markets as a key way of generating funding, but noted that a long-term political pact on climate change and government policies was needed to generate security for investors.
