From: CNN
Published October 3, 2008 08:49 AM

Dreaming of a climate bailout

LONDON, England (CNN) -- Governments around the world continue to pump billions of dollars into financial markets, but there is still no telling whether the "injections of liquidity" will be enough to prevent "this sucker" -- to quote the President of the United States -- from going down.

To many people one of the more fascinating aspects of the unfolding spectacle has been the bewildering amounts of money made available by governments to avert financial catastrophe. And no one knows yet whether it will all be worth it.

The same could be said of climate change. No one really knows how bad it will get, but as theStern Report concluded in 2006 doing nothing about it now is going to massively increase the costs of mitigation further down the line.

But the amounts being talked about and spent on climate initiatives by governments is dwarfed by the bail out package.

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