$422bn call over climate change

TIQUIPAYA: A conference on climate change wants US$300 billion ($422 billion) in annual compensation from wealthy countries and global companies to deal with global warming effects.

Leftist Bolivian President Evo Morales is leading the meeting of thousands of social activists and officials, who want greenhouse emissions reduced 50 per cent by 2020, and an international climate court to penalise non-complying nations.

The conference was born out of opposition to the Copenhagen Accord brokered by President Barack Obama at a December summit, that would raise nearly US$30 billion over three years to help poor countries combat the effects of climate change.

- AP