How to raise a trillion dollarsposted at 10:42 a.m. Greenwich Mean Time

10:42 GMT

Justin Rowlatt
Climate editor, in Baku

Image source, EPA

One million seconds is equal to 11 and a half days. A billion seconds is equal to 31 years. A trillion seconds is equal to 31,688 years. A trillion is a lot of money.

The richest countries currently pay developing countries just over $40 billion (£31.6 million) a year for climate action. They will probably increase that number a little, but not much.

The same thing again comes from the international development banks – the World Bank, the International Monetary Fund and others.

They could and should provide more money, many financial experts say.

These institutions can borrow very cheaply on international markets and could therefore lend more at cheap rates.

This could raise some $200 billion (£158.2 million) for climate finance, it is claimed.

Image source, Getty Images

Meanwhile, clean energy could generate significant benefits in developing countries.

If liquidity was used to lower high interest rates and reduce other risks private investors face in developing countries, it could unlock an additional $500 billion (£395.7 billion) a year , believe some economists.

We could raise a few billion more a year if we could just get a few more countries to contribute to the kitty – China, Saudi Arabia and the United Arab Emirates are not doing so at the moment.

And other innovative ideas are bouncing around this conference: taxes on aviation, on maritime transport, on billionaires. These may be long-term projects, but each could bring in tens of billions per year.

So while a trillion is actually a very significant amount of money, the prospect of getting it may not be as alarming as it seems.