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October 12, 2009

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Home » Business » Energy

Soros joins battle to stop global warming

BILLIONAIRE George Soros said over the weekend that he would invest US$1 billion in clean energy technology to combat climate change.
The Hungarian-born US investor also announced he would fund a new climate policy initiative with US$10 million a year for 10 years.
"Global warming is a political problem," Soros told a meeting of editors in Copenhagen where governments are scheduled to meet in December to try to hammer out a new global climate agreement to replace the 1997 Kyoto Protocol.
"The science is clear, what is less clear is whether world leaders will demonstrate the political will necessary to solve the problem," he said.
His remarks came a day after climate talks in Bangkok ended in deadlock over how much cash would be given to poorer nations to cope with climate change and the size of rich countries' greenhouse gas emissions cuts.


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