"I have a way" to unlock climate finance: Soros

COPENHAGEN: Billionaire financier George Soros said yesterday he had found a path to unlock a Copenhagen stalemate on climate finance, using International Monetary Fund assets.

UN talks in the Danish capital, meant to agree the outline of a new climate treaty to succeed the Kyoto Protocol, are stuck on splitting the bill to cut carbon emissions and prepare for more droughts, floods and rising seas.

Soros said developed countries could invest a portion of their $283 billion IMF special drawing rights in carbon-cutting projects in developing nations.