A Pledge That Didn't Meet Its Potential

Article by James Kanter

A pledge that could be worth $100 billion each year to developing countries was one of the few concrete outcomes of a United Nations climate summit meeting two years ago in Copenhagen that was otherwise seen as a fiasco...

...Ben Caldecott, head of European policy at Climate Change Capital, an investment firm based in London, said the overall amount fund would be less important than an effective structure that allows for private-sector involvement.

Mr. Caldecott has backed proposals for the fund to deliver emissions reductions through public or private contractors in projects like building solar energy systems in Sub-Saharan Africa or maintaining forests in Southeast Asia. Contractors would receive payments from the fund once emissions were reduced.

Read the full article on the New York Times website.

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A Pledge That Didn't Meet Its Potential