He insists that industry, as well as governments, must tackle the core issues, rather than trying to rid themselves of responsibility through measures like carbon offsetting - where individuals or companies balance their carbon output by financing green projects.

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But this will require reliable and consistent economic incentives from many different financing sources, including carbon credits and economic development assistance.

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There have been some earnest experimentations by these bodies to tap unconventional methods of financing such as public private partnerships, utilizing urban assets more productively, accessing carbon credits, etc. but then these do not address the financing needs.

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The "Blue Carbon" International Scientific Working Group met last week at UNESCO headquarters to discuss the implications of using coastal "blue" carbon as a conservation and management tool contributing to climate change mitigation and the development of associated conservation financing mechanisms.

UNESCO: World Water Assessment Programme (WWAP)

Finally, a question from Lib Dem Lord Ezra on carbon capture led energy and climate change minister Lord Marland to explain the Longannet project was withdrawn because "financing was going off the dial".

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Financing to address climate change will derive from multiple sources, including both public and private funds and carbon markets.

WHITEHOUSE: THE WHITE HOUSE