Former President Bill Clinton said Tuesday that success of the alternative energy movement is hampered by a lack of financing, remarks made as world leaders attending the Clinton Global Initiative expressed fears about rising seas at his annual philanthropic conference.
Clinton's three-day summit for VIPs with deep pockets began Tuesday with a frank discussion about addressing global climate challenges, co-hosted by Mexican President Felipe Calderon and South African President Jacob Zuma.
There was a sense of frustration among the world leaders over the failure to create a legally binding world agreement on carbon emissions. Clinton said the main issue with green energy is a lack of proper funding.
"This has to work economically," Clinton said. "You have to come up with the money on the front end."
Sheikh Hasina, prime minister of Bangladesh, said rising seas would submerge one-fifth of her country, displacing more than 30 million people. Clinton said the next countries most likely to be affected by climate change are places that are inland and hot - such as Mali, a landlocked nation in western Africa.
"A few years ago, after the south Asian tsunami, I spent a lot of time in the Maldives," Clinton said. "I think it's quite possible that the Maldives won't be here in 30 or 40 years."
With the Associated Press