UN climate chief says Wall Street meltdown is a chance for change

New York, Oct.18 : United Nations climate chief Yvo de Boer has said that the present meltdown on Wall Street should be seen as an opportunity to create and enforce policy which stimulates private competition to fund clean industry.

Talking to reporters here, de Boer said the chance to grow a greener world economy will come this December in Poznan, Poland, where governments will begin to formulate a successor to the Kyoto Protocol to combat global warming.

The deadline for a final agreement is December 2009.

De Boer pointed out that global demand for energy is expected to surge by 50 per cent by 2030, so investment in clean technologies must start now.

Taxing carbon emissions from petrol and creating green standards for vehicles and appliances should stimulate greener living, he said.

ANI