The United Nations stated that investing in energy efficiency for power plants, buildings, and cars is the most effective way to combat global warming. They also reported that reducing emissions in developing nations is more cost-effective than in wealthy countries. The UN report presented at a meeting in Vienna highlighted that curbing greenhouse gas emissions could be achieved with a relatively small amount of investment, amounting to 0.3 to 0.5 percent of projected GDP by 2030. Yvo de Boer, head of the U.N. Climate Change Secretariat, emphasized that energy efficiency is the most promising solution for reducing greenhouse gases in the near future. Last week, a 216-page report was released online. The study has the potential to provide guidance to governments gathering in Austria to discuss long-term strategies for combating global warming beyond the UN's Kyoto Protocol, which requires 35 wealthy nations to limit greenhouse gas emissions by 2008-12. The report suggests that around $200 billion-$210 billion in global investment and financial flows will be needed by 2030 in order to stabilize greenhouse gas emissions at current levels. This will involve implementing measures in areas such as energy supply, forestry, and transport, as well as improving energy efficiency in power plants, increasing fuel efficiency in cars, and enhancing insulation in buildings. The study predicts a transition towards renewable energies like solar and hydropower, as well as some nuclear power. It also projects that investments in helping countries adapt to the effects of climate change would amount to tens of billions of dollars in 2030, including healthcare for diseases like malaria and building barriers to protect coastlines from rising sea levels. The report suggests that carbon markets must be expanded significantly to meet the demand for increased investments and financial support. Currently, companies are responsible for approximately 60 percent of global investments. Experts believe this report is the first of its kind to provide an overview of the necessary investments for a single year, specifically 2030. The report provides additional information to complement previous reports, such as one by former World Bank chief economist Nicholas Stern, which stated that it would be more cost-effective to address climate change now rather than wait for the consequences. This year's U.N. reports have also predicted that global warming will lead to more heat waves, droughts, disease, disruptions in farming, and higher sea levels. De Boer emphasized the need for increased investments in developing nations, stating that a majority of cost-effective opportunities are in these countries. He also noted that while rich nations should not solely focus on foreign investments, more than half of the energy investment required is in developing countries. China is constructing two new coal-fired power plants every week to support its expanding economy. It has been suggested that investing in cleaner technologies, such as filtering and burying carbon emissions, could help mitigate the environmental impact.