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GCN at Copenhagen: Soros proposes $100 billion climate fund

10 December 2009

Financier and philanthropist George Soros believes $100 billion to finance near-term action on climate change can be found by using assets known as 'Special Drawing Rights' or SDRs. SDRs are usually used to help countries with immediate liquidity problems and have been used recently to meet the short-term needs of countries particularly badly hit by the finance crisis.

Mr Soros said he has been working on innovative approaches to financing climate change actions because 'I’ve been convinced that this is really an existential problem for the world.'

http://greeninc.blogs.nytimes.com/2009/12/10/soros-hatches-climate-finance-scheme/

Contact - a.pendleton@ippr.org