Soros to Invest $1 Billion in Clean Energy. By Katherine Burtonand Jim Efstathiou Jr, BloombergNews, October 11, 2009. "Billionaire George Soros, looking to address the 'political problem' of climate change, said he will invest $1 billion in clean-energy technology and create an organization to advise policy makers on environmental issues. Soros... announced the investment in Copenhagen Saturday at a meeting on climate change sponsored by Project Syndicate. The group is an international association made up of 430 newspapers from 150 countries... Soros, 79, also will establish the Climate Policy Initiative, a San Francisco-based organization to which he will donate $10 million a year for 10 years. 'It will be part advisory service, part policy developer and part watchdog,' said Thomas Heller, who is heading the initiative. Heller is a professor at Stanford University Law School whose expertise is in energy law and regulation and environmental law... The organization will address subjects such as carbon- emissions trading. Soros has said he prefers a greenhouse-gas tax because carbon emission-trading systems, which are used in Europe, can be manipulated by investors." Economists and Business Leaders Call for Universal Carbon Tax. The Australian, October 12, 2009. "At the same editors' gathering, a panel of economists and business executives, including Nobel laureate (and Columbia University economist) Joseph Stiglitz and former Mexican president Ernesto Zedillo, unanimously concluded that cap-and-trade schemes would not work... They argued instead for a carbon tax to set a universal price on carbon that would give certainty to business."
2009-10-13
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