Climate numbers: Read 'em and weep

Because they appear deep down in two long posts, I wanted to bring to greater attention some quite startling statistics provided in two recent Interpreter pieces on the Copenhagen Accord.

First, Peter McCawley, on how much developed countries might have to shift to the developing world for climate change mitigation and clean energy:

It is useful to bear in mind that total foreign aid flows from all western OECD countries at present amount to around $120 billion per annum...The sums mentioned by reliable observers as appropriate transfers from rich to poor countries vary from around $100 billion per year up to $400 billion or more. In other words, it seems that assistance (or some other forms of financial transfers) from OECD countries to will have to at least double in order to satisfy developing countries – and quite possibly, will have to rise by yet another $100 billion or so again.

Second, from earlier today, Frank Jotzo on the US$10 billion per year actually pledged by rich countries at Copenhagen:

These amounts are almost nothing when compared to the needs for investment in better infrastructure in developing countries, or the relevant expenditure in rich countries. As a random example, New South Wales, an Australian state of 7 million people, is planning to invest $63 billion over 4 years in infrastructure.