"If the climate was a bank they would already have saved it."

I do not agree with the ideology, policies and politics of Venezuela's old style Socialist President Hugo Chavez but I have to say that his comment at the COP15 Copenhagen UN Climate Change Conference holds, alas, water: "If the climate was a bank they would already have saved it."

According to The Economist, bank bailouts around the world have cost the equivalent of 5% of world GDP.
According to a study conducted for the UK government, Climate Change financing would cost 1% of world GDP per year.