Emerging economies can help fund the fight against climate change through sovereign wealth funds, swollen by oil and other exports receipts, the World Bank's Latin America chief, Pamela Cox, said on Tuesday.
Developing countries blame climate change on rich nations which have fuelled decades of growth by burning fossil fuels, and so want them to take the lead in fighting the problem.
But industrialised nations, and especially the United States, want big emerging economies to agree to a bigger role under U.N.-led talks to clinch a climate deal next year....MORE
Tuesday, June 10, 2008
Emerging economies can fund climate fight - World Bank
This is an interesting idea. From Reuters: