Soros Suggests Using IMF SDR to Fund Climate Fight

George Soros has a suggestion on how to finance the global fight against climate change: Rich nations should tap some of the USD283 billion in special drawing rights issued by the International Monetary Fund early this year to address the downturn. "Rich countries could double available funding to combat climate change by donating recently issued special drawing rights to a new green fund," the financier and philanthropist said, as quoted by

. "This fund would jump-start investment in low-carbon energy sources, reforestation efforts, rainforest protection, land-use reform, and adaptation programs."

About the author

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    Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.