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Asia-Pacific pact nations press big business for climate change cash

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Asia-Pacific pact nations press big business for climate change cash

The private sector and not governments must take the lead in halting global warming, some of the world’s biggest-polluting nations said as controversial talks on climate change began.

Ministers from the United States, China, India, Japan, South Korea and Australia met top executives from major mining and energy companies to seek high-tech ways of addressing the issue.

The ministers were expected to use the two-day, closed-door meeting to press corporate giants such as Exxon Mobil, Rio Tinto and Peabody Energy for billions of dollars in contributions to pollution-reduction programs.

Australian Industry Minister Ian Macfarlane said it was time for private enterprise to ’step up to the plate’ and accept the task of halting global warming, while US Energy Secretary Sam Bodman said he would challenge executives to do more.

More: forbes.com

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