Climate cash could create "Copenhagen stimulus"

Climate talks could draw on global recovery spending to smooth a deal in Copenhagen in December to replace the Kyoto Protocol, said Nick Robins, head of HSBC's climate change research center. HSBC analysts estimate the green portion of a $3.1 trillion fiscal stimulus at about $512 billion. Those funds to boost renewable energy, efficiency, public transport and water treatment so far exclusively focus on domestic economies and jobs, but could be turned to the aid of faltering U.N. talks meant to agree a new climate treaty. "If we're anywhere near the $500 billion we've identified, then one should hope there is some scope for governments to think about a contribution that would be the Copenhagen stimulus," Robins said at the Reuters Global Climate and Alternative Energy Summit.