Billionaire hedge fund manager George Soros recently spoke up on climate change financing.
According the The Wall Street Journal, billionaire hedge fund manager and political activist George Soros is pushing for a $100 billion "Green" fund to be financed by special drawing rights (SDRs). Created by the IMF in 1969, SDRs are what The New York Times called a "virtual currency." They are the based on a basket of four key international currencies, and are normally used as a source of liquidity. Soros suggested the funds could be put to work planting new forests, expanding farming methods, and helping with adaption and energy programs in poor countries.
Back in October, Soros announced plans to invest $1 billion of his own capital in clean energy. He told Bloomberg that the investments "should be profitable but should also actually make a contribution to solving the problem."
As of the most recent regulatory filings Soros’ top-15 U.S.-listed equity holdings included just one alternative energy play, waste to energy firm Covanta (NYSE: CVA – News). However his sizable stakes in fertilizer plays Potash (NYSE: POT – News) and Monsanto (NYSE: MON – News) could see an uptick if billions were invested in the agricultural segment of developing nations.