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According to the United Nations (UN) annual survey released July 5, 2011, the world needs US$1.9 trillion in green technologies investments a year with over half of that sum necessary for developing countries.
“Over the next 40 years, US$1.9 trillion per year will be needed for incremental investments in green technologies,” said the UN Economic and Social Affairs body said in its annual survey.
“At least one-half, or US$1.1 trillion per year, of the required investments will need to be made in developing countries to meet their rapidly increasing food and energy demands through the application of green technologies,” the UN added.
At the moment, “external financing currently available for green technology investments in developing countries is far from sufficient to meet the challenge,” the UN also added.
World Bank has already disbursed about US$20 billion for green technologies
Over the last two years, climate change funds managed by World Bank disbursed about US$20 billion, a fraction of the sum necessary for developing countries to build up clean energy technologies, sustainable farming techniques and green technologies that help cut non-biodegradable waste production.
Even though states agreed during a 2009 Copenhagen summit to spend US$30 billion over 2010 to 2012 and US$100 billion a year by 2020 in transfers to developing countries, these sums have not been realized. They would also fall short of the actual investment required.
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