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Copenhagen Accord

Set the Right Price on Carbon and Investors Will Come

Karin Rives's picture

 Dana Smillie/World Bank

This was not the time to discuss the science of climate change, or ways to protect coastal cities against monster storms.

The development experts, journalists, policy wonks and investment professionals who gathered at the Center for Global Development in Washington this week were there to sort out a much thornier issue: How to mobilize and spend the $700 billion or so the world will need annually – above what’s already being spent – to slow and adapt to climate change.

Their consensus: Current levels of public and private finance won’t even begin to do the job.