Alternative energy fund proposed
"The developed world has a responsibility to help developing economies meet their energy needs in an environmentally sustainable way… So at the World Bank meetings in April... I will propose a World Bank facility -- a 20 billion-dollar fund for developing economies to invest in alternative sources of energy and greater energy efficiency."
That’s Gordon Brown, UK Chancellor of the Exchequer.
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Very nice thinking by Mr. Brown there!
"We got rich spraying all manner of particulate into the air and some of us (namely the USA) don`t plan to change that behavior anytime soon. But those developing countries, they have to meet their energy needs in an environmentally sustainable way!"
Assuming that most of the money won`t go to China, then all this money would be better directed at cleaning up our own act (in the USA especially, but also the rest of the OECD countries).
Posted by: Dan Kahn | Mar 23, 2006 2:55:57 PM
All developing nations,particularly India will immensely benefit with the establishment of the proposed fund.India is rich in renewable energy sources;especially wind,solar power and biomass.According to India renewable energy development agency,India generates about 400 million tonnes of agricultural waste which along with forestry and agro-industrial processing waste can be potentially utilized to generate equivalent of 19500 MW power.Investment in the development of environment friendly alternate energy sources like biofuel,wind farms,small hydro power plants and solar water pumping systems is going to be an important factor in India's rural economic growth
Posted by: ajit | Mar 23, 2006 6:22:19 PM