Sunday, March 28, 2010

The trillion-dollar question is: who will now lead the climate battle?

Political and business leaders gather this week in an attempt to revive the world's faltering challenge to global warming. But they face a battle to lift the cloud of skepticism that has descended over climate science and chart a new way forward.

Some of the planet's most powerful paymasters will gather in London on Wednesday to discuss a nagging financial problem: how to raise a trillion dollars for the developing world. Those charged with achieving this daunting goal will include Gordon Brown, directors of several central banks, the billionaire philanthropist George Soros, the economist Lord (Nicholas) Stern and Larry Summers, President Obama's chief economics adviser.

As an array of expertise, it is formidable: but then so is the task they have been set by the UN secretary general, Ban Ki-moon. In effect, the world's top financiers have been told to work out how to raise at least $100bn a year for the rest of this decade, cash that will be used to help the world's poorest countries adapt to climate change.

More information in the source.

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