Soros calls for 100 Billion$ IMF infusion into emerging market Green energy

Discussion in 'Wall St. News' started by Debaser82, Dec 10, 2009.

  1. 10 (Bloomberg) -- Billionaire George Soros asked the richest nations to use $100 billion of foreign-exchange reserves to finance emissions-reducing projects in poor countries.

    The reserves, from the International Monetary Fund, would go into a “green fund” to make investments in rain forests, agriculture and land use that will lower carbon-dioxide emissions, the financier said today at climate-treaty negotiations involving about 192 nations in Copenhagen.

    Soros, who has already pledged to invest $1 billion he manages in clean-energy technology, offered the proposal as a catalyst for industrialized countries negotiating how to finance carbon-cutting efforts in the Danish capital. They need new ideas to keep the planet from overheating, he said.

    Oll George pushing his solar stocks again is he?:)