Norway plans billion-dollar clean energy fund for world’s poor
What is it about those hoar-frosted Scandinavians that makes them crazy ambitious when it comes to clean energy? First it was Denmark's promise to go 100 percent renewable; now their buddies in Norway want to launch a billion-dollar fund for building renewable energy in the developing world.
Norway has already pledged more than $500 million a year to stop deforestation in Indonesia, so they're probably for real when they say that they want the "Energy+" initiative to attract billions in investment from developed countries, all of it aimed at building solar, wind, and hydro in the developing world.
Only problem is, most of those developed countries have yet to figure out how they're going to scrape together the $100 billion in climate aid they pledged in 2009. Limping economies aren't helping the situation.
What's Denmark's solution? They've grown fantastically wealthy by being the sixth largest oil exporter in the world. No irony in that!
Norway plans billion-dollar clean energy initiative for poor, Reuters.