Carbon penalties may route to $100b

More penalties on greenhouse gas emissions could help raise $100 billion a year from 2020 to enable poor nations to slow global warming, despite austerity in many rich countries, Norway's prime minister said.
Jens Stoltenberg, who will co-chair a UN advisory group about climate financing in Addis Ababa on Tuesday, said raising $100 billion a year was "feasible" but one of the hardest issues in talks on a new UN climate deal.
Rich nations agreed at December's UN summit in Copenhagen to give poor countries an annual $10 billion in aid for 2010-12, rising to $100 billion from 2020, to help them curb emissions and cope with the impacts of global warming, such as floods, heat waves or rising seas. But they did not say how.