Climate program helps nations go green
The World Bank has selected eight developing nations to receive $500 million to help them adapt to global warming. If the climate adaptation program goes well it could play a pivotal role in developing a new global climate deal. Sam Eaton reports.
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STEVE CHIOTAKIS: The World Bank has selected eight developing nations to take part in the first large-scale climate adaptation program. And how it plays out could be pivotal in reaching a new global climate deal. From the Sustainability Desk, here's Marketplace's Sam Eaton.
SAM EATON: The concept is simple. Funnel money from the wealthiest greenhouse gas emitters, including the U.S., to the countries that suffer the biggest consequences from their emissions. Nations ranging from Bangladesh to Bolivia will receive $500 million to help them adapt to global warming. The World Bank's environment department director, Warren Evans, says the goal isn't to fund individual projects, but rather to rethink entire development schemes.
WARREN EVANS: For example in water resources are they building the right things? Are these going to be financially and economically and socially viable under future climate scenarios.
Other examples include boosting food security with drought tolerant crops, or restoring mangrove forests to protect coastal communities from storms. Evans says the $500 million is a drop in the bucket compared to what's needed. But if the program is successful it could serve as a template for next global climate treaty. And potentially generate tens of billions of dollars a year to help poor countries adapt.
I'm Sam Eaton for Marketplace.
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