A major global report launched on Tuesday urges wealthy nations to lead the way in reducing carbon emissions to avoid negative impacts on health, education, and poverty reduction for the world's poor. The UN Human Development Report (HDR) 2007-08, titled "Fighting climate change: Human solidarity in a divided world," also calls on developed countries to offer incentives to developing nations to address the challenge of climate change. The report, prepared by the United Nations Development Programme (UNDP) based on the Intergovernmental Panel on Climate Change Synthesis Report, highlights the urgency of taking action within the next ten years, as discussed in upcoming climate change negotiations in Bali, Indonesia. The report warns that if action is not taken soon, temperatures could rise above two degrees Celsius, leading to the disappearance of Himalayan glaciers that are crucial sources of water and food for more than two billion people. The lead author of the report, Kevin Watkins, stated that the carbon budget of the 21st century is being overspent and could run out by 2032. He emphasized that the poor, who have the smallest carbon footprint and the least resources to protect themselves, will be the first to suffer from the effects of climate change caused by developed countries' high levels of energy consumption. The report calls on the wealthiest nations to take responsibility by reducing emissions by 80 percent by 2050 and investing $86 billion annually in international adaptation efforts to help vulnerable populations. The report suggests that developed countries should implement a new system to transfer clean energy technology to developing countries. It mentions that investing in this initiative can protect assets during flooding and argues that developing countries, especially rapidly growing nations like China and India, should also reduce emissions by 20 percent by 2050. The UNDP administrator emphasizes the importance of expanding access to affordable energy while reducing carbon emissions, and stresses the need for international cooperation to achieve climate and energy security. The report also proposes the creation of a Climate Change Mitigation Facility, funded by developed countries, to encourage developing nations to pursue sustainable development. Watkins emphasizes that rich countries must provide proper financing for technology transfer to poorer countries as a requirement for addressing their carbon footprint. The pathway for the Bali conference on 'Fighting climate change' outlines a detailed checklist for world leaders, urging a binding post-2012 multilateral agreement to combat climate change and protect vulnerable populations. This includes reducing emissions from developing countries by 20% by 2050 and from developed countries by 30% by 2020 and at least 80% by 2050 compared to 1990 levels. Additionally, it calls for the establishment of a Climate Change Mitigation Facility to fund low-carbon energy investments in developing countries, enabling them to transition to cleaner energy sources and commit to international emission reduction targets. This would require an annual investment of $25-50 billion. Additionally, setting a fair price on carbon can be achieved through a mix of carbon taxation and a widespread implementation of cap-and-trade programs globally. Furthermore, enhancing regulatory standards involves implementing and enforcing stricter efficiency guidelines for vehicle, building, and electrical appliance emissions. Encourage the growth of low carbon energy sources, acknowledging the untapped potential for expanding the use of renewable energy and the necessity of investing in innovative technologies like carbon capture and storage (CCS). Dedicate $86 billion, equivalent to 0.2 percent of the combined GDP of northern countries, to developing climate-resilient infrastructure and enhancing the ability of disadvantaged communities to withstand the impacts of climate change. Incorporate adaptation into all strategies aimed at reducing poverty and extreme inequality, including poverty reduction strategy papers. Acknowledge the importance of carbon sequestration in forests and land in future global agreements, and support international financial transfer plans for deforestation, as proposed by Brazil and other countries.