Developing countries will need $270bn more to adapt to climate change – study

Current pledges to cut carbon emissions will cost developing countries 50% more than if global warming is limited to 2C, Oxfam report says

Developing countries will have to pay $270bn extra each year to adapt to the impacts of climate change if global pledges to cut greenhouse gas emissions do not increase, according to a new report by Oxfam.

Plans submitted by more than 170 countries ahead of crunch UN climate change talks in Paris next week are likely to lead global temperatures to rise by 2.7-3C above pre-industrial times.