green plans in the red!

The cost of efforts to avoid dangerous global warming may be 170 percent higher than 2007 estimates, a report for the UN’s climate agency said on Thursday.

The report comes four days before the UN leads a fresh round of talks in Poland to agree a successor to the Kyoto Protocol in ongoing negotiations marred by squabbles over who should bear the cost of fighting climate change.

The UN report cited research by the International Energy Agency (IEA), energy adviser to 28 countries, and others which showed growing capital costs especially in the energy sector.

The increased investment needed is entirely due to higher capital costs for energy supply facilities, it said.

Heat Is Online – Planetark.org, Nov. 28, 2008