YONGFU HUANG is the Tyndall Research Fellow at the University of Cambridge, where he completed this research. Since 2006, he has initiated and maintained the Financial Development Resources website, which is currently hosted at Cambridge. In May 2010, Dr Huang was selected by the Intergovernmental Panel on Climate Change (IPCC) for its Fifth Assessment Report (AR5 WGIII) as Lead Author, working on the cross-cutting investment and finance issues for tackling climate change.