Rich Must Pay Bulk of Climate Change Bill, Oxfam Says

May 29, 2007 — By Jeremy Lovell, Reuters

LONDON -- Coping with the ravages of global warming will cost $50 billion a year, and the rich nations who caused most of the pollution must pay most of the bill, aid agency Oxfam said on Tuesday.

The call, barely 10 days before a crucial Group of Eight (G8) summit in Germany which has climate change at its core, is likely to make already tense negotiations even tougher.