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CO2 Market Mechanisms Can Raise Money For Climate Fight -OECD

CO2 Market Mechanisms Can Raise Money For Climate Fight -OECD
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Πεμ, 17 Δεκεμβρίου 2009 - 19:34
Cutting greenhouse gas emissions by 20% through carbon taxes and the auctioning of permits to emit greenhouse gases could raise massive revenues for the fight against climate change, OECD Secretary General Angel Gurria said Thursday.
Cutting greenhouse gas emissions by 20% through carbon taxes and the auctioning of permits to emit greenhouse gases could raise massive revenues for the fight against climate change, OECD Secretary General Angel Gurria said Thursday.

Industrialized countries could raise up to 2.5% of their gross domestic product by 2020 through these measures, the head of the Organization of Economic Cooperation and Development told Dow Jones Newswires in an interview.

"The instruments have to generate revenues also, not just emissions cuts," Gurria said on the sidelines of Copenhagen climate talks, where countries are wrangling over a deal to cut emissions and come up with the finance to pay for the effects of it in the developing world.

Gurria's comments came as U.S. Secretary of State Hillary Clinton proposed that big economies, including the U.S. , come up with $100 billion a year over the next decade to help developing countries fight climate change.

"The real point is the mechanisms and where you're going to get the money from, and that's going to come from putting a price on the enemy, which is carbon," Gurria said.

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