:00:00. > :00:25.Footing the bill for climate change: The head
:00:26. > :00:28.Spain's economy on track for its best year since 2008, so is the
:00:29. > :00:46.Also in the programme, we will hear how India is betting on wind power.
:00:47. > :00:49.We start with the debate over climate change, as officials
:00:50. > :00:52.and heads of government gather in Paris from Sunday to try and strike
:00:53. > :00:55.Can they succeed where the last such conference
:00:56. > :01:04.Let's take a look at the key numbers.
:01:05. > :01:07.195 countries will attend the talks from the industrialised nations, who
:01:08. > :01:10.have, some say, done most of the damage, to the poor countries who
:01:11. > :01:14.have the most to lose from rising sea levels and extreme weather.
:01:15. > :01:17.The plan is to cap global temperatures to just two degrees
:01:18. > :01:19.Celsius above what they were in pre-industrial times
:01:20. > :01:33.Rich nations have promised $100 billion a year by 2020 to help
:01:34. > :01:35.developing countries cut fossil fuel use and protect their people
:01:36. > :01:45.Just a fraction of that has been seen so far.
:01:46. > :01:47.On Wednesday, the charity Oxfam warned that poor countries face
:01:48. > :01:58.economic losses of $1.7 trillion per year by 2050 unless a deal is done.
:01:59. > :02:04.This week the World Bank announced a $16 billion climate investment plan
:02:05. > :02:10.for Africa, as the bank's head Jim Kim explained to Michelle Fleury.
:02:11. > :02:17.The thing that we wanted to be sure about was that Africa is not
:02:18. > :02:23.forgotten in these conversations. African leaders very often say, we
:02:24. > :02:27.have the smallest role of any continent in putting carbon in the
:02:28. > :02:32.air but we are already feeling the impact of climate change much more
:02:33. > :02:36.than anywhere else. When you are round the table in Paris, what do
:02:37. > :02:41.you think will be the stickiest issue? There are many questions
:02:42. > :02:46.about whether we do have a credible path to the $100 billion and this
:02:47. > :02:49.will be the -- will be one of my roles, to continue to illustrate why
:02:50. > :02:53.we are convinced that there is a credible path. You refer to the
:02:54. > :02:57.money promised by developing countries to help poor countries
:02:58. > :03:02.affected by global warning? That's right. The high impact countries
:03:03. > :03:05.promised that by 2020 there will be $100 billion a year following from
:03:06. > :03:09.the north to the south to combat climate change. We believe there is
:03:10. > :03:14.a path to get there. China has more momentum than ever before to solve
:03:15. > :03:16.this problem and yet a recent newspaper article in the US has said
:03:17. > :03:22.they had been lying about how much coal they were eating. What is their
:03:23. > :03:29.capacity in your opinion, versus their will to do something? --
:03:30. > :03:32.emitting. The announcement of the nationwide trading programme that
:03:33. > :03:35.will get started by 2017 is one of the most important made in the
:03:36. > :03:39.entire history of our effort to fight on it change. The minute that
:03:40. > :03:43.trading scheme is implemented in Beijing, Beijing will become the
:03:44. > :03:48.largest carbon market in the world. In terms of the specific data, this
:03:49. > :03:53.is not something that I have any detailed information about, but I
:03:54. > :04:01.have seen a change and I've seen the level of the ambition that his
:04:02. > :04:02.pretty much the highest in the world and putting together very difficult
:04:03. > :04:04.programmes. That is the head of the World Bank
:04:05. > :04:09.talking about China. After China and of course the US,
:04:10. > :04:12.India is the third largest emitter Ahead of the summit,
:04:13. > :04:17.India has promised to generate 40% of its electricity from renewables
:04:18. > :04:20.in the next 15 years and much Suranjana Tewari starts her
:04:21. > :04:38.report in Pune, about 150 It is exam season for the students
:04:39. > :04:43.at Pune's modern college. Although writing papers can be stressful,
:04:44. > :04:47.students here are thankful for one thing, an uninterrupted supply of
:04:48. > :04:53.electricity, keeping them cool and giving them plenty of light. These
:04:54. > :04:57.turbines provide enough electricity to power lights, fans and computers
:04:58. > :05:02.at this college. But they don't always work. The amount of power
:05:03. > :05:07.were actually produced varies on the time of day and the time of year.
:05:08. > :05:12.Because the system isn't 100% reliable, it needs to rely on a
:05:13. > :05:16.backup generator instead. India produces three times more power from
:05:17. > :05:20.wind than it does from other so-called renewables, like solar and
:05:21. > :05:24.hydropower. And windfarms like this one are popping up all over the
:05:25. > :05:28.country. But the industry has some specific problems in India. The
:05:29. > :05:33.included getting access to land needed for wind projects and then
:05:34. > :05:38.there's crime, with gangs routinely stealing valuable copper cables or
:05:39. > :05:42.redirect electricity before it can enter the power grid. And even if
:05:43. > :05:44.the physical infrastructure is in place, not everyone is convinced it
:05:45. > :05:50.will be enough. The biggest constraint in the future would he
:05:51. > :05:57.along viability of these projects. Are these projects making sufficient
:05:58. > :06:02.return, so that it is viable and private equity investors find it
:06:03. > :06:06.appealing? The government has made switch over to wind power more
:06:07. > :06:12.attractive to investors by providing subsidies and incentives. But some
:06:13. > :06:17.experts say that while wind power is undoubtedly progress, expanding
:06:18. > :06:22.output more means everything. The policies are not relevant any
:06:23. > :06:30.longer, because windmills have already earned their positions. Any
:06:31. > :06:34.new ones will operate at new efficiencies and will at least have
:06:35. > :06:38.the same output. At the moment wind power provides 8% of the electors
:06:39. > :06:43.see the band in India. The plan is to double that. But India still has
:06:44. > :06:48.to build a stable power network that can supply continuous electricity to
:06:49. > :06:50.the entire country. Without that, the role of wind energy will be
:06:51. > :06:55.limited. In a couple of hours' time,
:06:56. > :06:59.official figures should confirm the economy grew at
:07:00. > :07:02.an annual rate of 3.4% in the three It's on track
:07:03. > :07:06.for its best year since the financial crisis in 2008 and the
:07:07. > :07:13.strongest growth rate in Europe. Good news for Prime Minister Mariano
:07:14. > :07:15.Rajoy, who's hoping to get re-elected in just under a month,
:07:16. > :07:18.but is that the whole story? Dr Pablo Calderon Martinez is
:07:19. > :07:32.a Lecturer at Aston University. Give us your take on this shift in
:07:33. > :07:40.Spain. It all sounds great, in terms of the numbers, but is it as good as
:07:41. > :07:47.it sounds? The economy is recovering and the economic situation in Spain
:07:48. > :07:49.was dire. But we have to see whether this will be sustainable and
:07:50. > :07:53.maintained for a long period of time. I don't think there has been a
:07:54. > :07:57.drastic change in the economic policy or planning, so we've seen
:07:58. > :08:02.many of the same mistakes being repeated again. What are those
:08:03. > :08:06.mistakes? They are still basing the economic growth on the same things,
:08:07. > :08:12.internal consumption, exporting to emerge in markets, which is a mixed
:08:13. > :08:16.bag. -- emerging. But there is a drop in development and there's the
:08:17. > :08:21.problem of employment. Unemployment is still there. The unemployment
:08:22. > :08:27.problem for young people in Spain is chronic and that hasn't really
:08:28. > :08:31.changed? That hasn't changed. The item -- an implement figures are
:08:32. > :08:38.dropping, but still it is high. About 20%. -- unemployment. In some
:08:39. > :08:42.cities it is higher than 50%. That's a real problem for Spain. How they
:08:43. > :08:47.will solve that. For Mariano Rajoy in particular, when elections come,
:08:48. > :08:51.that will be a real problem. The economy was always going to grow,
:08:52. > :08:55.the closet couldn't get any worse, but how does that translate into
:08:56. > :08:58.creating jobs, permanent jobs, and how it was all the situation of the
:08:59. > :09:03.young in Spain. Your thoughts about the election, it is towards the end
:09:04. > :09:09.of December, just before Christmas, the only other couple of weeks the
:09:10. > :09:19.campaign. It was talked a lot about anti-austerity gaining traction when
:09:20. > :09:24.Sir -- Siriza gained popularity. What are the feelings now? For the
:09:25. > :09:29.left-wing party, it isn't going away. I think it is gathering
:09:30. > :09:35.strength. It is still there and I don't think it will win the election
:09:36. > :09:37.outright, don't think it has the support to win the election
:09:38. > :09:41.outright. It will be interesting to see what happens. Obviously the
:09:42. > :09:45.economy will be a key issue and my guess is that Mariano Rajoy will
:09:46. > :09:48.play on that economic growth and economic figures. At the same time
:09:49. > :09:53.there are many other issues that worries people, like corruption,
:09:54. > :09:57.unemployment and dissatisfaction with the political system in Spain.
:09:58. > :10:00.Thank you so much for coming in. When we get the numbers, in terms of
:10:01. > :10:02.Spanish growth, we will update you. In other news, a massive corruption
:10:03. > :10:05.investigation in Brazil widened on Wednesday with the arrest of Andre
:10:06. > :10:08.Estevez, the billionaire boss of the country's top investment bank
:10:09. > :10:10.and senator Delcidio do Amaral, The probe that started with state
:10:11. > :10:16.oil giant Petrobras has now reached the highest levels of banking
:10:17. > :10:18.and politics and seriously dented Mud from a dam at a Brazilian iron
:10:19. > :10:31.ore mine that burst earlier this month, engulfing a village and
:10:32. > :10:37.killing at least 12 people, is toxic, according to a report by
:10:38. > :10:42.the UN, which contradicts
:10:43. > :10:43.claims by the mine operator. The accident
:10:44. > :10:49.which has also killed thousands of fish and cut off drinking water
:10:50. > :10:52.for 250,000 people has been described as the country's
:10:53. > :10:54.worst environmental disaster. News of the UN report sent shares of
:10:55. > :10:57.miner BHP Billiton, which co-owns US markets are closed this Thursday
:10:58. > :11:01.for the Thanksgiving holiday. As one turkey received
:11:02. > :11:03.the traditional pardon from the President, a farm lobby
:11:04. > :11:05.group reports the average cost of Thanksgiving dinner in the US
:11:06. > :11:09.this year will rise to a record, Turkey prices have jumped
:11:10. > :11:13.after a bird flu outbreak destroyed more than 7.7 million turkeys
:11:14. > :11:26.earlier this year. That was the one that got away.
:11:27. > :11:30.These are the markets in Asia. Gains across the board. No action in the
:11:31. > :11:34.US for obvious reasons. Wall Street is closed for the Thanksgiving
:11:35. > :11:43.break. On Friday, Wall Street has just opened until 1pm. Some people
:11:44. > :11:52.will go to work! That's all from me for now.
:11:53. > :11:56.Talks are due to begin today to try to stop planned strikes
:11:57. > :12:01.Representatives from the British Medical Association and