COP 17: Green Climate Fund 'not enough'

The proposed $100bn-a-year Green Climate Fund that is being negotiated at the COP-17 climate change conference in Durban is not enough to address climate change mitigation and most of it should rather be spent on adaptation measures where more value can be obtained from the funds, said Dennis Welch, executive vice-president and chief administrative officer of American Electric Power, as reported by Edward West for the Business Day. World Bank Special Envoy for Climate Change, Andrew Steer, said the private sector was already investing a great deal in climate change: "A lot is happening, the problem is, we need to triple it."