According to a new study published in The Daily Caller, a report says World Bank Group warns the severe possibilities of extreme weather conditions like droughts and floods if no action is taken to reduce the emission of greenhouse gas which will warm the world by at least 4 degree Celsius by 2100.
"A 4°C warmer world can, and must be, avoided - we need to hold warming below 2°C," said World Bank President Jim Yong Kim in a statement, according to The Daily Caller. "Lack of action on climate change threatens to make the world our children inherit a completely different world than we are living in today," Kim added. "Climate change is one of the single biggest challenges facing development, and we need to assume the moral responsibility to take action on behalf of future generations, especially the poorest."
The World Bank is lending every support possible towards the climate change improvement initiatives and runs a $7.2 billion Climate Investment Funds which helps 48 developing countries says a report in The Daily Caller. David Kreutzer, Research Fellow in Energy Economics and Climate Change at the conservative Heritage Foundation told The Daily Caller News Foundation in an email:
"The World Bank seems focused on creating the ideal world for subsistence farmers and in the process preventing many of them from escaping that poverty. Even if extreme weather events were linked to global warming (a claim unsupported by the trends of the last century), the costly carbon restrictions proposed by the World Bank would have no impact for decades and minimal impact even by the end of the century."
According to The Daily Caller, a meeting which will be conducted next week among the nations, including the United States, in Doha, Qatar to carry out a program to encourage the reduction of greenhouse gas worldwide. The Obama administration has also promised to support the cause with $100 billion annual funding from the developed countries towards the helping the developing countries to carry out the expensive climate change policies.
"Proposing energy killing climate policies for the emerging economies is like telling the emaciated to start their diet now because they may become overweight in 90 years," Kreutzer said in the same report. "The World Bank would do better to focus on actual economic growth now so the world can become less poor and better situated for whatever lies ahead."
