Businessman Richard Branson and former US presidential candidate Al Gore have announced a multi-million euro cash prize for the scientist who can come up with the best way of removing carbon emissions from the atmosphere.
The €19 million prize was announced in London this morning.
Speaking on RTÉ Radio's Morning Ireland, John Sweeney, climatologist at NUI Maynooth who contributes to a UN climate change panel, broadly welcomed the initiative, but he warned it may not be the solution to the problem of climate change.
The Green Party also warned that it is not a solution and said it could become a distraction.
Green TD Ciarán Cuffe said the initiative failed to deal with the substantial issue.
US govt defends Bush's climate change record
The US government has defended President George W Bush's record on climate change following renewed criticism from his political opponents.
A spokesman said the US had committed $9 billion to climate change science - more than any other country.
Earlier, the Democratic speaker of the House of Representatives, Nancy Pelosi, criticised Mr Bush's response to the recent UN report on climate change.
