Saturday, 30 August 2014
Last updated 1 day ago
Dec 14 2009 | 9:55am ET
Billionaire George Soros, who personally plans to invest $1 billion in clean technology, says the IMF should provide $100 billion to assist those countries most affected by climate change.
Speaking at a press conference during the climate talks in Copenhagen, Soros said the $10 billion promised by the developed world to assist less-developed nations was “not sufficient” and the gap between what was wanted and what was offered “could actually wreck the conference.”
Soros suggested the IMF divert funds now being used for financial systems hit by the economic downturn.
The question of assistance to developing nations was a major issue during last week’s discussions in the Danish capital. Developing nations already feeling the effects of climate change – like Tuvalu, Micronesia and the Maldives – have been calling on developed nations to cut their greenhouse emissions and provide financial assistance to help the most vulnerable nations cope.
The U.N. has suggested a fund with an initial contribution of $10 billion.
Soros has made a couple of investments in the cleantech sector, including a clean coal company Powerspan and the cellulosic ethanol company Qteros. Last October, in announcing his plans to invest in cleantech, Soros said he would “look for profitable opportunities,” but would also “insist that the investments make a real contribution to solving the problem of climate change.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...