02 Sep '11, 12am

Report: Private finance crucial to $100bn Green Climate Fund

A $100bn annual fund to help developing nations combat climate change is a more realistic prospect if greater private contributions are encouraged rather than relying on aid from financially stricken developed nations. That is the view of a Bloomberg New Energy Finance (BNEF) white paper , which calls the current funding arrangements by governments – agreed at the Cancun climate summit last year – "a recipe for failure". FURTHER READING Congressional committee votes down climate aid proposal Shipping and aviation carbon pricing could finance $100bn climate fund The ongoing work of an international panel trying to thrash out the details of the so-called Green Climate Fund (GCF) ahead of the November talks in Durban is heading down a dead end, the paper says. It should instead be focusing on instruments to channel private finance directly to projects. "There is no earthly wa...

Full article: http://www.businessgreen.com/bg/news/2106043/report-priva...

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