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US Billionaires — the Real Innovative Climate Financing Source?

17. June 2010, Comments (0)

The real innovative climate financing resource that everybody is looking for might have a name. It could be Bill Gates or Warren Buffett, George Soros or Oprah Winfrey. Forget about carbon taxes, airline levies and cruise line surcharges which a UN High Level Advisory Group on Climate Change Financing – including billionaire George Soros —  is currently mulling over in an increasingly desperate search to find new finance sources to pay for mitigation and adaptation effort in developing countries. They are controversial and politically hard to implement.  For the real feel-good and quick solution, the 20-member expert panel should look no further than, lets say Seattle, Omaha or New York. 

Especially now that both Bill Gates and Warren Buffett are appealing to their fellow US billionnaires to follow their lead and to donate at least half of their wealth for good causes. It could be done with a simple stroke of a pen (or keyboard, nowadays). In fact, this is probably exactly how those enormous fortunes have ballooned in the age of unfettered financial speculation…

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Climate – a question of equity?

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Liane SchalatekLiane Schalatek
Liane Schalatek is Associate Director of the Washington Office of the Heinrich Boell Foundation. She's interested in climate issues from a development perspective, with a specific focus on gender and climate finance.

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