George Soros offers a solution in the fight against global warming

George Soros, businessman and philanthropist, announces at a press conference a plan to generate additional $ 100 billion for climate change relief, Copenhagen, 10 Dec 2009
Soros: “The main thing is that the plan was approved by the U.S. Congress.”

Arrived at the summit in Copenhagen, the American financier George Soros has proposed a plan, implementation of which, he believes, will make it possible to double the amount of funds allocated for environmental projects in developing countries. Rich state, he said, must make available to the International Monetary Fund to send its available financial reserves for the implementation of “green technologies” in the Third World. This is especially important because the lack of funds at risk of becoming a major threat to reach agreement the representatives of 192 nations summoned to Copenhagen, said Soros.

British expert David Vaskou from non-profit organization Oxfam Soros’s plan seems reasonable. In an interview with VOA, he said: “Developing countries currently have very limited funds made available for a short time, but they need much more money and for a long time.

The industrialized countries have proposed to allocate to poor countries over three years to 10 billion dollars annually. Meanwhile, according to IMF estimates, the fight against climate change will require hundreds of billions of dollars annually to private and public funds. According Vaskou, efforts to reduce greenhouse emissions would be a serious challenge for developing countries:

“They will have to deal simultaneously with many challenges – to solve problems of agriculture, water resources and infrastructure, while introducing clean energy technologies. This requires long-term investment.

In Copenhagen, among other issues, discusses the problems of coastal protection, modification of drought resistant crops, improved health care and transition to alternative forms of energy. All these initiatives involve major costs. If rich countries are not generous, the Copenhagen Summit will be fruitless, summed up by David Vaskou.

Following the presentation in Copenhagen, George Soros said that although the reaction to his proposal was positive, most importantly, the plan was approved by the U.S. Congress.