Soros: $100 billion in IMF-held reserves could battle climate change

Billionaire financier George Soros outlined a plan Thursday for funneling $100 billion into projects in the developing world to fight climate change.

Under his plan, rich nations would tap into reserves held by the International Monetary Fund to finance forest projects and other efforts to curb emissions in developing nations, according to Bloomberg and several other news outlets.

But the Associated Press notes that Soros, who appeared at the Copenhagen climate talks, sees a tough road ahead for his plan.

“It is possible to substantially increase the amount available to fight global warming in the developing world,” he said in the AP account. “All that is lacking is the political will. Unfortunately the political will will be difficult to gather because of the mere fact that it requires congressional approval in the United States.”