UN panel: $100 Billion per year in New taxes needed for a climate fund
BONN, Germany Carbon taxes, add-ons to international air fares and a levy on cross-border money movements are among ways being considered by a panel of the world's leading economists to raise a staggering $100 billion a year to fight climate change.
British economist Nicholas Stern told international climate negotiators Thursday that government regulation and public money also will be needed to create incentives for private investment in industries that emit fewer greenhouse gases.
The advisory panel is chaired by the prime ministers of Norway and Ethiopia and the president of Guyana. Its members include French Finance Minister Christine Lagarde, White House economic adviser Lawrence Summers, billionaire financier George Soros and public planners from China, India, Singapore and several international banks.
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#1 Aug 7, 2010
There is no reason that MOST emissions reductions ( almost all in the early phases of low hanging fruit) cannot pay for themselves or at least repay themselvse over a few decades. THings such as higher efficiency ( IGCC with 60% thermal efficiency replacing current 30% thermal efficincy) or insulation ( a cheap investment if provided when the home is BUILT and a good investment even when renovating). Updating building standards wouldn't cost a cent. Most of the worst coal power is already a decade past it's 'service life' and needs a replacemnt anyway!
#2 Aug 7, 2010
This is just another 'economic scare story' by a bunch of industry funded 'economists' looking for work. ANY work.
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