Financial Times FT.com

Climate change

Rich urged to pay climate costs of poor

By Fiona Harvey in London Environment Correspondent

Published: May 28 2007 22:04 | Last updated: May 28 2007 22:04

The US should pay $22bn a year to developing countries to help them to adapt to the effects of climate change, according to a calculation published on Monday by the charity Oxfam.

Japan should pay about $6.5bn, Germany about $3.5bn a year and the UK at least $2.5bn a year in order to give developing countries the aid they need. Other countries, such as European Union member states and Australia, should pay between $1.5bn and $2.5bn in climate change reparations, or “compensatory finance”, said Kate Raworth, senior researcher at Oxfam and author of the report.

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