"Financing should be the 'crunch issue' here next week, for the heads of state to deal with," said Alden Meyer of the U.S. Union of Concerned Scientists.
Soros said the $10-billion-a-year short-term plan is "more than nothing, but not much, it's not sufficient."
SHOOT: Unfortunately now that there's urgency on this topic it comes at a time of heightened financial strain, internationally. What do you want? Blue skies or the lights on?
COPENHAGEN – The $10 billion a year proposed by rich nations to help the poor adapt to climate change is "not sufficient" and the gap between what's offered and what's needed could wreck the Copenhagen climate conference, American billionaire George Soros said Thursday.
The investor-philanthropist, one in a line of international notables visiting the 192-nation meeting, told reporters he had developed a partial solution. Soros suggested shifting some International Monetary Fund resources from providing liquidity to stressed global financial systems to a new mission of financing projects in developing countries for clean energy and adapting to climate change.
About $100 billion in a one-time infusion could be generated, said Soros, a major supporter of causes in the developing world.
"It is possible to substantially increase the amount available to fight global warming in the developing world," he said. "All that is lacking is the political will. |
clipped from news.yahoo.com
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